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Trader sells $173 million in BTC call options on 52-day view

Trader sells $173 million in BTC call options on 52-day view

A large Bitcoin options position points to expectations that BTC will stay below $70,000 into Sept. 25, though analysts say a single trade does not by itself signal a broader market direction.

BTC

Fact Check
The original source tweet from analyst @ai_9684xtpa, retrieved directly via X full-archive search, states the trader sold 2,709 BTC call options worth $173M notional via GreeksLive, betting BTC will not surge more than 9.5% within 52 days, and will collect $3.03M premium if BTC stays below $70,000 at expiry (Sept 25, 2026). This matches every specific figure in the claim: the $173M size, the 52-day horizon, the 9.5% ceiling, the $3.03M premium, and the $70,000 threshold. Four independent crypto news outlets (CoinNess, TheBlockBeats, PANews, Odaily) reproduce these same figures and cite the identical original tweet. The claim accurately reflects the analyst's report. Note this is an analyst's on-chain interpretation of an options position, not an independently audited trade record.
Summary

A trader has cumulatively sold 2,709 BTC call options expiring on Sept. 25 with a $70,000 strike price, for a notional value of about $173 million, according to on-chain analyst Ai Yi. The position amounts to a wager that Bitcoin will not rise more than 9.5% over the next 52 days and stay below $70,000 at expiry. The trader collected about $3.03 million in premium. If BTC does not break above the strike price by expiration, the seller keeps the full premium, while a sharp rise in Bitcoin could lead to corresponding losses. Analysts say the transaction does not necessarily mean Bitcoin will fall, because options traders often use multi-leg or hedged structures to manage risk. The choice of the $70,000 level nonetheless suggests that market participants see that area as an important resistance zone, while U.S. macroeconomic data, central bank policy expectations and flows into spot Bitcoin ETFs may help shape price action in the coming weeks.

Terms & Concepts
  • BTC call options: Options contracts tied to Bitcoin that give the buyer the right to purchase at a preset price before expiry.
  • strike price: The preset price at which an options contract can be exercised.
  • option premium: The upfront amount paid by the buyer and received by the seller for an options contract.