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Bitcoin Could Go Crazy Above $36K, Options Data Suggests

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Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.

Options are derivative contracts, offering the purchaser the right but not the obligation to buy or sell the underlying asset at a preset price at a later date. A call or a bullish bet gives the right to buy, while a put confers the right to sell.

When market makers or dealers are net short gamma, they buy the underlying asset in the spot market as its value increases to stick to their mandate of maintaining an overall delta or market-neutral exposure.

 

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