Traders work on the floor of the New York Stock Exchange.
new york stock exchange
Bitcoin It fell below that key level for the first time since October 2024 on Friday, but rose above the $60,000 level again.
The world’s largest cryptocurrency lost about 27% of its value in 2026 and is currently down about 50% from its all-time high. Despite the carnage, traders are not retreating from the sector. of iShares Bitcoin Trust ETF (IBIT) is in the top 20 most popular tickers in the options market based on volume, and has two of the top 15 largest options trades based on value. strategy and coinbase on monday.
Each of these trades painted a completely different picture of where this market was headed next.
Bitcoin in 2026
In Michael Saylor’s strategy, a trader sold 29,425 of the 125/180 call diagonals, collecting approximately $56 million in the process. Specifically, the trader sold a 125-strike call expiring on August 21st and used the proceeds to buy 180 calls expiring on June 18th. This is the most profitable options strategy if the Strategy stock declines and stays below $125 through the August expiry. Ideally, you should let both calls expire so you can pocket the full amount.
The recent sale of the Bitcoin treasury company’s flagship cryptocurrency (the first in years) surprised investors both at the company and in the broader cryptocurrency world. However, one top expert believes a rebound is likely.
“Even in the face of an onslaught of AI narratives that undermine trust in traditional systems, Bitcoin remains the healthiest currency, demonstrating the resilience of its proof-of-work architecture,” said Tom Lee. bitmine Chairman and Head of Research at FundStrat.
This resiliency will be the key to any crypto resurgence, and will likely be the key to Coinbase’s other major crypto trades on Monday. One trader is betting about $21 million on a big comeback for hard-hit exchange stocks.
The trader also used a diagonal strategy and sold $4.9 million worth of 10,990 calls expiring on June 18th and bought $26 million worth of $160 worth of calls expiring on August 21st. This setup also benefits from time decay, but is clearly a more bullish position as the trader expects the long call to rise in price.
Coinbase since the beginning of the year
This trade takes advantage of Coinbase’s rising premium to generate immediate income, while also setting the stage for name appreciation in the long run. For the August expiry call to be profitable, the stock would need to rise above $183.40 per share, or about 13% above its price in Monday’s trading.
