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

Odaily Planet Daily News Late Monday, a SOL option block trade was completed on Deribit through the over-the-counter trading network Paradigm, betting that the SOL price will rise to $400 by the end of February. According to the block trade flow tracked by Amberdata, the trade used a bull call spread structure involving a long position of $280 call options and a short position of $400 call options, with 10,000 contracts each, both expiring on February 28. The call spread can achieve maximum profit when the price of the underlying asset is equal to or higher than the strike price of the sold call option (in this case, $400), which means that the buyer expects SOL to rise 55% from the current market price of $257 in just one month. Greg Magadini, director of derivatives at Amberdata, said that the buyer bet that the spread will break through $280 and reach $400, with a break-even point of around $300. (CoinDesk)