Two whales buying Bitcoin call options will lose $8.2 million in premiums if they do not close their positions early.

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Marston Finance reports that, according to on-chain analysts’ monitoring, a certain whale previously purchased 3,000 contracts of expiring $100,000 BTC call options, paying a total premium of $2.86 million. Another whale bought 1,300 contracts of expiring $100,000 BTC call options, as well as 2,400 contracts of expiring $98,000 BTC call options, with a total premium paid of $10.22 million. Today at 4 PM marks the first monthly settlement after the annual settlement. If these two large holders do not close their positions early, they will incur a loss of $8.2 million in premiums.

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