A large bitcoin options trade on Deribit is betting on increased volatility by the end of November. The trade, known as a long straddle, involves purchasing call and put options at the $66,000 strike price. To be profitable, the bitcoin price needs to either exceed $87,000 or drop below $53,000 by the end of November. The trade will lose money if the price remains within the $53,000-$87,000 range. The November options have seen above-normal activity, possibly due to anticipation of post-U.S. election volatility.



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