Bear put spread activity in btc options on Deribit over the past 24 hours.
Sell 56000-P / Buy 62000-P 27FEB26
950x net premium:$329.86k
What is a bear put spread?
A bear put spread involves buying a higher strike put and selling a lower strike put with the same expiry.

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The maximum profit is limited to the difference between the two strike prices, minus the premium paid.
Maximum profit is realized when the underlying moves to or below the Short Put strike price on expiration.

Maximum Loss is limited to premium paid.
Maximum loss is realized if the spread expires worthless, when the underlying moves to or above the Long Put strike price on expiration.
Breakeven Price: Equal to the Long Put Strike Price - Premium paid