專業加密貨幣交易員正在利用 IBIT 選擇權押注貝萊德的比特幣 ETF，價格翻倍至 100 美元：觀察者

IBIT 選擇權的看漲情緒與 Deribit 上 20 萬美元比特幣看漲選擇權交易的明顯活動一致。

Options tied to BlackRock's spot bitcoin (BTC) exchange-traded fund (ETF) debuted with a bang on Tuesday, registering a staggering first-day trading volume of $1.9 billion.

與貝萊德現貨比特幣 (BTC) 交易所交易基金 (ETF) 相關的選擇權週二一推出就大獲成功，首日交易量達到驚人的 19 億美元。

Most activity was concentrated in call options, representing a bullish bias, with some traders betting on doubling the ETF price to at least $100. The Nasdaq-listed ETF closed Tuesday at $52.70.

大多數活動集中在看漲期權上，一些交易員押注 ETF 價格將翻倍至至少 100 美元。該在納斯達克上市的 ETF 週二收在 52.70 美元。

The $100 strike call option saw a trading volume of over 32,000 contracts, according to data tracked by analytics firm ConvexValue. Most of the value happened in the Dec. 12 expiry, which was also the most popular settlement overall, accounting for 40% of the total trading volume of 354,000 contracts.

根據分析公司 ConvexValue 追蹤的數據，100 美元執行權的看漲期權的交易量超過 32,000 份合約。大部分價值發生在12月12日到期，這也是整體上最受歡迎的結算，佔354,000份合約總交易量的40%。

"It’s pretty interesting to see 'professionals' degen into $100 strikes (this effectively means a doubling of BTC prices given IBIT trades near $50)," Samneet Chepal, crypto quant researcher, Samneet Chepal, said on X.

加密量化研究員 Samneet Chepal 在 X 上表示：“看到‘專業人士’發起 100 美元的罷工（這實際上意味著 BTC 價格翻倍，因為 IBIT 交易價格接近 50 美元），這非常有趣。”

The notable uptake for the $100 IBIT call is consistent with activity on offshore crypto options exchange Deribit, where $381 million in notional open interest is locked in the $200,000 strike bitcoin call. Assuming those buyers are investors and not market makers, it's safe to say that they are bracing up for the doubling of the spot price.

100 美元 IBIT 看漲期權的顯著增長與離岸加密期權交易所 Deribit 的活動一致，其中 3.81 億美元的名義未平倉合約被鎖定在 20 萬美元履約比特幣看漲期權中。假設這些買家是投資者而不是做市商，可以肯定地說他們正在為現貨價格翻倍做好準備。

Note that Tuesday's most traded IBIT option was the call at the $55 strike, and the overall volume of call options was four times higher than that of put options.

請注意，週二交易量最大的 IBIT 選擇權是行使價為 55 美元的看漲期權，看漲期權的總體交易量是看跌期權的四倍。

A call option gives the holder the right but not the obligation to purchase the underlying asset at a predetermined price on or before a specific date. A call buyer is implicitly bullish on the market, looking to profit from or protect the short spot/futures market position from an expected price surge in the underlying asset.

買權賦予持有者在特定日期或之前以預定價格購買標的資產的權利，但沒有義務。買權買家隱含買權市場，希望從標的資產預期價格飆升中獲利或保護空頭現貨/期貨市場部位。

According to Deribit, the stateside demand for calls and the resulting "trend trading" by market makers to hedge their books could set the stage for a gamma squeeze higher in BTC's price.

據 Deribit 稱，美國國內對看漲期權的需求以及由此產生的做市商對沖賬簿的「趨勢交易」可能會為 BTC 價格的伽馬擠壓奠定基礎。

"U.S. institutions and retail who can't trade on Deribit, the largest crypto options market, will now be able to enter the space and create more open interest around certain price levels, which can further trigger volatility and gamma squeezes in addition to Deribit," Luuk Strijers, Deribit's chief executive officer said in an email, echoing opinion of other analysts.

「無法在最大的加密貨幣選擇權市場 Deribit 上進行交易的美國機構和散戶現在將能夠進入該領域，並圍繞特定價格水平創造更多未平倉合約，這可能會進一步引發波動和伽馬擠壓， Deribit 執行長Luuk Strijers 在一封電子郵件中表示，呼應了其他分析師的觀點。

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