A trader purchased 3,000 BTC call Call Option on Deribit, expiring on January 30, 2026, with a strike price of $100,000, totaling approximately 32.4 BTC (about $2.86 million).
This trade reflects expectations of a strong long-term rise in BTC , but the maximum risk is losing the entire option premium if BTC fails to surpass the required level by expiration.
- Buy 3,000 BTC call option on Deribit, expiration date 30/01/2026, strike price 100,000 USD.
- Each option costs 0.0108 BTC; total fees are 32.4 BTC (~$2.86 million).
- IV is approximately 41.8%; break- Capital is $100,953.67; anything under $100,000 incurs a total loss.
Details of BTC options trading on Deribit
A trader buys 3,000 BTC Call Option , expiring on January 30, 2026, with a strike price of $100,000; a premium of 0.0108 BTC per contract, for a total payout of approximately 32.4 BTC.
According to recorded data, the total cost of 32.4 BTC is equivalent to approximately $2.86 million at the time of reporting. This is the upfront fee to secure the right to purchase BTC at $100,000 when the contract expires.
The contract has implied volatility of approximately 41.8%, reflecting the expected BTC price volatility that the options market is pricing for this maturity period.
Break- Capital point and maximum loss risk
If held until expiration, BTC needs to surpass $100,953.67 to be profitable; if BTC falls below $100,000, the entire option premium could be lost.
With a strike price of $100,000, the call buyer will only profit if the price of BTC increases enough to cover the fees paid, so the profit threshold is stated as $100,953.67. If BTC does not surpass this level by January 30, 2026, the profit will not meet expectations.
In the worst-case scenario, if BTC closes below $100,000 at expiration, the option becomes worthless and the 32.4 BTC payout results in a total loss, in accordance with the limited risk mechanism of a long option position.
