QCP Capital Buys Bitcoin Call Options At $60,000 And $80,000

(CTN News) – The buying of bitcoin call options at strike prices above $60,000 for expiries from April through December has increased, according to reports.

The QCP Capital Options Vol-cast report on Thursday reported that there was massive demand for bitcoin call options. This week alone, close to $10 million was spent on premiums for $60,000 and $80,000 strikes that expire from April to December.

According to Deribit’s cryptocurrency derivatives exchange, this observation is in accordance with its metrics. On Deribit, there is a significant concentration of bitcoin call options with strike prices of $65,000 or higher for expirations from April through December.

There is a concentrated cluster of bitcoin call options with a strike price of $100,000 for the end-of-year expiry in December.

From all upcoming expirations, calls with a strike price of $60,000 for the end of March expiration have the highest volume. Deribit data indicates that there are 1,273 contracts with a strike price of $60,000 for the March 29 expiry, which equates to more than $67 million in notional value based on the contract data.

A significant proportion of market participants have a particular interest or expectation that the price of bitcoin will rise above the $60,000 strike price and above, which implies that a significant proportion of market participants have a particular interest or expectation that bitcoin will rise above this level in the near future.

As a result, when someone purchases an options premium, they are in fact paying a fee in order to acquire an options contract, which is also referred to as a premium. It is important to note that options are essentially derivative contracts in the financial markets.

They are contracts that grant the holder the right, but not the obligation, to purchase or sell an underlying asset at a specified price, known as the strike price, within a specified time frame. In essence, the buyer acquires this right by purchasing the option premium.

A Bitcoin worth $52,330 was changing hands at 6:07 a.m. East Coast Time (ET), according to The Block’s Price Page.

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