Bitcoin Traders Pile Into $100K CME Options as Price Climbs Through $93K: CF Benchmarks

Corresponding to CF Benchmarks, traders are flocking to the $100,000 call option on the CME, a location favored by institutional investors, following the lead of their Deribit-based counterparts. A label option gives the purchaser the right, but not the obligation, to purchase the underlying asset at a predetermined price on or before a specific rendezvous. A call buyer is implicitly bullish on the market.