A large-scale options user on Deribit sold bullish and bearish Ethereum options at the end of October, totaling 500 ETH

Deribit's Asia-Pacific business head, Lin Chen, posted on platform X stating that today's largest ETH block option was a user selling bullish and bearish options for $3400 at the end of October, totaling 500 ETH and receiving $394,000. Analysis suggests that this investor is shorting volatility with a profitable price range of $2750-$4450. The coin-based return reaches 24.45%, perhaps the investor likely believes that the price will repeatedly fluctuate within this range.