DeriveDeribit
SOL, ZEC and ADA options are priced for less movement than the market has actually delivered this month.
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Calculations and trade ideas use fixed rules and templates, not AI.
KoolKrypto (@koolkrypto223) bought 23,500 ETH 26 Mar 5000/7000 call spreads for $898.2K and said so on X. 138 other wallets hold matching legs; 109 first appear in our fill history on or after the post.
Each idea is recorded the first time it fires and marked at the current mid every 15 minutes; expired legs settle at intrinsic. Return is per unit of the structure as a share of the entry cost, before fees. Ideas open for less than a day are not scored yet.
Buy the bull call spread BTC 125k/200k 25 Jun 27 on Derive.
KoolKrypto (@koolkrypto223), a wallet we follow, paid $427k for 200 of them on Derive by RFQ (buy BTC 125k call, 25 Jun 27, sell BTC 200k call, 25 Jun 27) with BTC at $81,717. Large active book, about $1B notional and +$8M realized a month. Explained the ETH March-27 call-spread thesis on X on 11 Sep 2026.
Rule: Followed wallet traded $32.68M notional, 2026-09-19 16:12 UTC.
Buy the 2 Oct 108 straddle on Derive.
SOL has moved at 68% annualised over the last month (97% over the last week), but options are only pricing 53%. When the market moves more than options price in, owning options pays.
Rule: Implied 53% vs realized 68%, ratio 0.78 (rule fires below 0.85).
Sell the 25 Sep 110 call on Derive.
$1.97M of open interest sits at 110 (mostly calls), 1.2% above spot, expiring in 5.0 days. Dealers hedging that strike sell as price approaches it from below and buy as it approaches from above, which tends to pin price near it into expiry.
Rule: Largest open interest within 5% of spot on the nearest expiry: 18,119 contracts.
Buy the 25 Sep 1.4/1.3 put spread on Derive.
Max pain is the expiry price at which option holders collectively lose the most. For 25 Sep it is $1.3, against spot at $1.38. Price often drifts toward it in the last days as hedges unwind; a tendency, not a rule.
Rule: Max pain $1.3 vs spot $1.38, gap -5.9% (rule fires beyond 1.5%).
Sell the bear call spread BTC 78k/80k 20 Sep 26 on Derive.
KoolKrypto (@koolkrypto223), a wallet we follow, collected $388k for 200 of them on Derive by RFQ (sell BTC 78k call, 20 Sep 26, buy BTC 80k call, 20 Sep 26) with BTC at $81,065. Large active book, about $1B notional and +$8M realized a month. Explained the ETH March-27 call-spread thesis on X on 11 Sep 2026.
Rule: Followed wallet traded $32.43M notional, 2026-09-20 01:40 UTC.
Buy on Deribit at $50.1, sell on Derive at $59.
The ETH 5k call, 26 Mar 27 is offered at $50.1 on Deribit and bid at $59 on Derive. After both venues' fees that is $7.34 per contract of locked-in edge.
Rule: 28.1 bps of forward after fees (rule fires above 5 bps).
Derive · Last 24h · Ranked by unusual activity
hedger · 17% win rate · -$1.11M this month
hedger · 17% win rate · -$1.11M this month
rfq block
rfq block
rfq block
Premium bought minus premium sold, measured from the side initiating each trade. These are option payments, not profit or loss. Last 24 hours; trades of at least $50k notional.
Market prices, open interest, volatility signals and flow on this page come from Derive. The biggest print is the largest contract execution or same-second sweep by underlying notional, before notable-trade ranking; a package leg is not the whole spread. Premium is the amount paid for the option. Deribit supplies comparison prices and the cross-venue scanner. Implied is the at-the-money vol interpolated to 30 days from the Derive chain; realized is the annualised standard deviation of daily index moves over the last 30 days. Below 0.85× we call options cheap, above 1.25× expensive. Smart money is the top quarter of wallets by risk-adjusted 90-day results, among those that made at least $5k and traded in the last two weeks, with market makers removed; "smart long" on an asset chip is their net delta. Ideas are generated by fixed rules from these numbers, not by a person or a model; payoff diagrams are per unit at expiry and ignore fees. Notable trades are ranked by size against the wallet's usual size, distance from spot, smart-money or followed status, price versus Deribit's mark, and package legs. Alerts are aggressor fills over $250k notional in options (with at least $2k premium) or $1M in perps, over $50k by a smart-money wallet, or over $10k by a wallet we follow by hand; market makers are left out of the whale rows. The same rules feed the Telegram alerts.