A large $ETH bull call spread crossed the tape on Friday involving an initial debit of $10 million, according to Amberdataio. reports godole17.
. The trade involved the sale of a call option at the $2,500 strike price to partly fund the purchase of a call option at the $1,900 strike.
"For Ethereum to highlight call spread $1,900-$2,500 on December for around $10M of net premium paid: MASSIVE," Greg Magadini, director of derivatives at Amberdata, said in a newsletter late Sunday. Large ETH bull call spreads crossed the tape on on Friday, according to Amberdata's block trade tracker.
The strategy will be profitable as ether's price rises, although the profit potential is constrained to the difference between the strike prices minus the initial cost pair. The strategy will be unprofitable if ether trades below $1,900 at the end of December. The loss, however, is limited to the extent of the initial cost paid.
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