A large SOL options trade bets that the SOL price will surge to $400 by the end of February

PANews reported on January 22 that according to CoinDesk, a large SOL options transaction was completed on Deribit through the over-the-counter network Paradigm late Monday, indicating that the market expects prices to rise to $400 by the end of February.

According to the flow of block trades tracked by Amberdata, the transaction uses a bull call spread strategy, involving a long position on a $280 call option and a short position on a $400 call option, with 10,000 contracts on each side, and both sides will expire on February 28. Greg Magadini, director of derivatives at Amberdata, said that the bull call spread strategy achieves maximum profit when the price of the underlying asset reaches or exceeds the strike price of the short call option (in this case, $400). The buyer bets that the spread will break through $280 and reach $400, with a break-even point of around $300.