Large Ether Traders Position for Volatility Spike as Merge Draws Near

The strategy will make money if ether settles well beyond the $800-$3,000 range on Oct. 28, making the call or put more valuable than the initial per contract cost of $62.98. That figure is reached by adding the premium paid for one call option contract, $40.52 and one put option contract, $22.46. The total premium paid for buying the 4,000 call and put contracts is $251,920. The calculation is based on figures mentioned in the above chart.