Options are quite popular among professional traders and allow receiving a massive profit in a relatively short period. Quite often, such a large call on a price increase may be a part of a hedge position opened at the same time as a short-order.
Even though options are often used as a hedging tool, it is not likely that this is the present case as the size of the original short position would be massive; traders normally use around 5% of the initial position for hedging. In this case, the originalThe reason behind opening such a large position may be because of insider trading or a really firm belief in the second largest cryptocurrency on the market. But sometimes traders use options contracts like trading tools.
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