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Analyst: Data shows that options traders continue to remain optimistic, with the majority believing that the trend is not over yet
BlockBeats News, August 20th, On-chain data analyst Murphy posted on social media, stating that according to the "Option Strike Heatmap" data, on August 19th, a large-scale call option activity occurred in the $123,708 to $129,685 price range, with a total option premium size of approximately $43.32 million. At the same time, there was no net buying below the spot price, indicating that traders were more willing to bet on BTC rising to this range and that there was little demand for put options, with almost no one actively buying downside protection.
On the other hand, relatively larger-scale put options were sold in the $97,709 to $102,430 price range, with a total option premium size of approximately $13.14 million. This suggests that option sellers find it unlikely for the price to drop to this level and choose to sell volatility.
Therefore, sentiment among option market traders remains optimistic; most still believe that BTC's trend is not over and are betting that it can return to $124,000. Option sellers, on the other hand, believe that BTC's maximum volatility is unlikely to fall below $102,000.
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