Bitcoin call options have once again caught the attention after a hiatus of nearly three years, with a staggering $20 million locked into a $200,000 call option. This renewed fervor resembles the enthusiasm witnessed in 2021 for Bitcoin options poised to yield profits if the price triples in the upcoming months.
Call options offer investors the right to purchase the underlying asset at a predetermined price on a future date. Notably, a $200,000 strike price Bitcoin call option listed on Deribit attracted over $20 million in nominal liquidity, marking a substantial premium considering Bitcoin's current market price of $67,000.
Data from Deribit Metrics reveals that $14.6 million of the total sum has been committed to the $200,000 call option set to expire on December 27, with the remainder concentrated in contracts expiring in June and September. This suggests a significant cohort of investors anticipating Bitcoin to surge to $200,000 by December 27 at the latest.
During the bullish phase of 2021 when Bitcoin traded above $60,000, $200,000 call options enjoyed widespread popularity. This trend aligns with the prevailing sentiment that the forthcoming halving event, anticipated to reduce the supply, will further exacerbate the supply-demand dynamics, potentially propelling Bitcoin prices to unprecedented six-digit levels.
