SolSolana’s native cryptocurrency of Solana Programmable Blockchain presented a sharp four-week rally, which fell 85% since April 7-more than double bitcoin speed (Btc) – and the big choices entrepreneurs positioned for further acquisitions.
The token has risen around $ 176 in recent days as the crypto and traditional markets embrace a higher level of risk. Bitcoin, the leading cryptocurrency according to the market value, went up 40%, Coindesk’s data show.
The acquisitions are not likely to be reversed in the near future, if block entrepreneurs – mainly the institutions and market participants performing large trading orders over the counter and outside the book of public order – correctly. They placed the listed derivit listed on June 27 which expired the SOL $ 200 call to the large number, a sign that they expected to increase the upper level price before the first half ended.
“Entrepreneurs also got $ 200 June Expiration last week. This is the biggest block trade, trading 50,000x contracts in total for $ 263,000 in the premium,” Greg Magadini, the director of derivatives in Amberdata, said in an email. In the deribit, a contract of choice represents a sol.
A call option gives the consumer right, but not the obligation, to buy the underlying possession at a predetermined price at a later date. A consumer call is explicitly bullish on the market. It’s like buying a lottery ticket, where the owner has the opportunity to make significant acquisitions if they win, while risking only the initial amount paid for the ticket purchase.
Magadini added that these call options were that -to an annual indicated volatility (IV) of 84%. In other words, entrepreneurs have made this time perfectly, who have called calls while they are cheap because Sol’s IV usually has a triple digit.
Data shows that demand for $ 200 call option has left market makers or sellers with a significant net negative gamma exposure to strike price.
Market manufacturers with net negative exposure to gamma usually buy as prices and sellers rise during dips, aimed at re-weighing their portfolios toward a delta-neutral, or market-neutral, position. Their activities in the healing often strengthen market swings.
So it is likely that volatility will take as a SOL that potentially crosses the $ 200 mark.
