Deribit Bulk Options: A user simultaneously buys bullish and bearish options for $74,000 at the end of November

According to data released by Deribit officials, the largest BTC bulk options trade today was made by a user who simultaneously bought $74,000 call and put options for the end of November, totaling 100 BTCs, with a premium payment of $959,000. They indicated that this operation was to reduce their call option position, lock in some profits while additionally increasing their holdings in put options as a hedge.