2026-01-07 18:31:23

Will there be a major market fluctuation at the end of March? A trader has heavily invested $2.36 million in Deribit to position in BTC options with the "Heaven and Earth Strategy," laying out a very large setup.

Specifically: buying 660 BTC $12,000 call options (costing about $860,000), simultaneously buying 660 BTC $8,000 put options (costing about $1.5 million), with both contracts expiring on March 27.

This setup is very clear—upside potential offers a profit of up to $28,000, and downside potential up to $12,000. No matter which way BTC moves, as long as the volatility is large enough, profits can be made. Using large sums of money to play in the options market like this indicates that the trader has anticipated significant recent market volatility.

BTC-0,11%

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DataOnlooker

· 7h ago

Oh my, $2.36 million just to gamble on fluctuations. This guy really dares to play. --- This is the so-called "plan before action." I think this guy has really sniffed out the opportunity. --- The single-direction play is really ruthless; whether it goes up or down, you can cut a profit. It’s quite something. --- Around March 27th, there might be some trouble. Everyone, take it easy. --- Investing 2.6 million just to gamble on fluctuations? I just want to ask, if you win, what will you do with the money? --- Buying both calls and puts indicates this guy has no confidence in the direction; he's purely betting on volatility, truly bold. --- With such a large setup, what if it ends up sideways? I just want to see. --- If this single order triggers, how many people in the options market will follow to buy the dip? --- Forget it, I’d rather stick to traditional trading. I can't afford to play such high-level strategies. --- I bet there's a big institution behind this guy; retail traders can't play this aggressively.

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MetaDreamer

· 01-09 02:02

2.36 million invested just to ride the volatility, this guy really isn't afraid of death. Betting on the market at the end of March, I think it's a gamble...

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CountdownToBroke

· 01-07 18:57

$2.36 million worth of options, this guy really dares, betting on volatility is all.

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NFTArchaeologis

· 01-07 18:46

This tactic... is very much like medieval two-bet gambling, except the chips have been replaced with Bitcoin. Human nature is just being reenacted on the chain.

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YieldFarmRefugee