A trader purchased $2 million worth of DOGE calls today
According to reports, Bernd Sischka, Chief Commercial Officer of the derivatives exchange PowerTrade, stated that a trader purchased $2 million worth of Dogecoin (DOGE) call options on Wednesday with a strike price of $0.22. DOGE is currently trading at $0.166, and the purchased call options will expire on June 14. This means that DOGE must rise by over 31% for the trade to be profitable. The last time DOGE reached $0.22 was in March, but it has not exceeded this level since November 2021.
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