Anonymous trader opens $1.76B BTC call option targeting $100K-$118K range

An anonymous trader has initiated a $1.76 billion call option strategy involving 20,000 BTC, Coindesk reported. The trader is reportedly using a long call condor strategy, which involves four call options with the same expiration date but different strike prices. The strike prices are set at $100,000, $106,000, $112,000, and $118,000. According to the analysis, this move suggests the trader anticipates BTC will rise to a range between $100,000 and $118,000 by the end of the year, but will not surpass the upper limit.