This $28 million ether market bet aims to profit from pure market chaos
The mega trade aims to profit from a potential surge in ether price turbulence.
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Summary
- A trader placed a roughly $28 million notional long straddle on ether, buying 7,500 calls and 7,500 puts at a $1,875 strike that expire July 24.
- The bet is a high-conviction wager on sharp ether price volatility in either direction, with profit driven by big moves rather than by a specific price target.
- The trader paid about $852,000 in premium, which is the maximum loss if ether stays range-bound.
