Today's Deribit bulk options: A user paid 2.158 million USD to simultaneously buy BTC year-end call and put options, going long on volatility

According to information released by Lin Chen, the head of Asia-Pacific business at Deribit, traders paid a premium of $2.158 million to go long on volatility, while simultaneously buying a combination of bearish and bullish Bitcoin options that expire at the end of the year, with 50 Bitcoins on each side. If the price of BTC is below $76,000 or above $196,000 at settlement time, they can make a profit.