SOL Bullish Options Bet Indicates $400 Target by End of February
A significant Solana (SOL) options block trade executed late Monday on Deribit via the Paradigm OTC network suggests strong expectations for a SOL rally to $400 by February’s end.
The trade was structured as a bull call spread, involving a long position in the $280 strike call and a short position in the $400 strike call, each with 10,000 contracts, and both set to expire on February 28, according to data from Amberdata. This block trade is viewed as a clear signal of institutional interest, with the position aligning with bullish sentiment for SOL under Donald Trump’s presidency.
The bull call spread is designed to maximize profits if the asset’s price reaches or exceeds the $400 strike price of the short call. This suggests that the buyer is betting on a 55% increase in SOL from its current market price of $257 over the next month. The buyer expects SOL to rise above $280, with a breakeven point at around $300, according to Greg Magadini, Director of Derivatives at Amberdata.
This trade indicates strong bullish sentiment for Solana, with traders anticipating substantial price movement over the coming weeks.
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