PANews reported on April 2 that according to the cryptocurrency options block trade daily report released by Greeks.live macro researcher Adam, today's largest options block trade was the purchase of a BTC put option with an expiration date of April 25, 2025 and an exercise price of $60,000, with a cumulative transaction of over 1,000 BTC and a nominal face value of nearly $100 million. Deep out-of-the-money is a low-cost extreme risk hedging or high-leverage speculation, and profits need to fall by more than 30% under the current circumstances. The risk-return ratio of this transaction is low, and the premium of more than 100,000 US dollars is more suitable as an "extreme risk hedging accessory" in the portfolio rather than an independent speculative position.

The quarterly delivery has just ended, and the current major block transactions are still dominated by building positions and adjusting positions. This month, institutions have significantly strengthened their layout of put options. Large investors are not optimistic about the market this month, and the number of deeply out-of-the-money protective positions has increased significantly.