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

PANews reported on January 22 that according to CoinDesk, late Monday, a large SOL option transaction was completed on Deribit through the over-the-counter network Paradigm, indicating that the market expects the price to rise to $400 by the end of February.

According to the flow of large transactions tracked by Amberdata, the transaction adopted a bull call spread strategy, involving the establishment of a long position on a $280 call option and a short position on a $400 call option, each side involving 10,000 contracts, and both sides will expire on February 28. Greg Magadini, director of derivatives at Amberdata, said that the bull call spread strategy achieves maximum profit when the price of the underlying asset reaches or exceeds the strike price of the short call option (in this case, $400). The buyer bets that the spread will break through $280 and reach $400, with a break-even point of around $300.