Solana Bull Call Spread on Deribit Signals $400 Target by February
A significant Solana (SOL) options block trade took place late Monday on Deribit, executed through the Paradigm OTC network, indicating expectations of SOL reaching $400 by the end of February.
The trade, structured as a bull call spread, involved taking a long position in the $280 call and a short position in the $400 call, with 10,000 contracts on each leg, both set to expire on February 28, according to data tracked by Amberdata. The size and structure of the trade are consistent with institutional activity and align with predictions of SOL outperforming under Donald Trump’s presidency.
A bull call spread achieves its maximum profit when the price of the underlying asset reaches or exceeds the short call’s strike price — in this case, $400. The buyer is betting on a 55% price surge from the current price of $257, with the expectation that SOL will surpass $280 and could potentially hit $400. The breakeven point for the trade is around $300, according to Greg Magadini, Director of Derivatives at Amberdata.
This large block trade indicates bullish sentiment for Solana, with traders positioning for a major price increase in the weeks ahead.
