Greeks.live researcher: A huge block trade reminder for traders to be cautious about shorting volatility, the market may experience a major fluctuation of around 10% this month

Greeks.live researcher Adam posted on social media that Bitcoin has been relatively calm recently, and large-scale Bitcoin options trading has also been relatively flat. However, a huge bulk deal was completed yesterday, which may lead the next market trend. Buying 1500 sets of February straddles while selling 1500 sets of March straddles to lower costs. The total nominal value of the combination is as high as $260 million, and this single order accounted for more than 30% of yesterday's turnover. From the PNL chart we can see that whales are betting heavily that there will be a major fluctuation of more than 6% in February, but they are uncertain about the direction, which is rare in whale investments. After analyzing transaction data, it was confirmed that whales previously held sold-out calls at the end of February with a strike price at $45000 , verifying their shift from bearish volatility to bullish volatility. In summary based on these analyses, this massive trade worth $260 million reminds traders to be cautious about shorting volatility; the market might experience significant fluctuations up to 10% this month.