Deribit: An options trader bought 20,000 BTC call condor spreads, bullish on BTC ending the year in the $106,000 to $112,000 range.

Jinse Finance reported that Lin Chen, Head of APAC Business at Deribit, stated in a post that an options trader bought a bull call condor spread for 20,000 BTC, betting that BTC will end the year in the range of 106,000 to 112,000: buying a year-end 100,000 call; selling a year-end 106,000 call; selling a year-end 112,000 call; and buying a year-end 118,000 call. Note: A bull call condor spread is an options combination strategy that uses four options contracts with four different strike prices. It is used when the underlying asset is expected to rise moderately but with limited upside. Specifically, from low to high strike prices, the strategy involves buying options at the lowest and highest prices, and selling options at the two middle prices.