$28 Million Ether Straddle Bets On Sharp Price Swing By July 24

A $28 million ether options trade is betting on a sharp move in ether price turbulence by July 24, with gains possible if ETH swings hard in either direction. According to CoinDesk, the 15,000-contract long straddle involved buying 7,500 calls and 7,500 puts at the $1,875 strike, with a premium of $852,000 and a maximum loss limited to that amount if ether stays range-bound.