Today saw explosive growth in bulk call option trading, with a total of 25,766 BTC—representing a notional value of $1.65 billion—traded in bulk call options. Among these, nearly 10,000 contracts of the 70K/72K bull call spread, set to expire at the end of this month, were traded, making it the primary trading instrument. With two weeks remaining until the end of the month, such a large-scale purchase of call options that are 10% out-of-the-money indicates optimism about the market in the latter half of the month; however, the fact that traders opted for bull spreads with a relatively low notional value suggests this is merely a tentative attempt to buy the dip. It may be worth following suit and buying the dip; the market has been quiet for far too long, so even a slight rebound would be reasonable.(Greeks.live)