Defensive sentiment rises in the options market: Nearly 40% of transactions are put options, with large-scale spreads totaling approximately 200 million dollars
According to Odaily, Greeks.live posted an analysis on the X platform stating that today, Bitcoin Put block trades accounted for nearly 40% of the total transaction volume. The main concentration was on bearish spread trades for $75,000/$71,000 Put options expiring at the end of May, with a total notional value of nearly $200 million, aiming to set up defensive positions for the last ten days of this month during the rebound.
Overall, the market is inclined to defend against a pullback, but does not anticipate a crash. May and June have traditionally been regarded as poor months for the market, and this month major investors have continued to increase their defensive positions: buying effective protection, selling tail-risk financing, and managing costs.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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