A week ago last Thursday, Deribit made waves in the cryptocurrency industry by introducing call and put options at the $100,000 strike price expiring on Sept. 24, 2021.
The purchase of a $100,000 call is a bet that bitcoin (BTC, +6.34%) will rise above that level on or before Sept. 24, 2021, making the option "in-the-money."
When those options went live, BTC was in the midst of a stunning run into uncharted territory past $20,000, setting a then-record high of $23,770 on the day those $100,000 options went live.
Since then, after a brief pause, BTC has resumed its rallying ways, hitting $25,000 for the first time late Christmas Day and at time of writing is trading at $25,472.56, up 5.75% in the last 24 hours.
It's not clear when these new calls and puts expire.
