KoolKrypto bought 23,500 spreads for $898.2K, posted it on X, and 153 wallets followed. (@koolkrypto223) bought 23,500 ETH 26 Mar 5000/7000 call spreads for $898.2K and said so on X. 153 other wallets hold matching legs; 122 first appear in our fill history on or after the post.

ETH needs: +87% in 183d
Positions: 49,205 · $1.6M
Spread now: $40.70 vs $38.22

Every entry →

Biggest Derive print, 24h

$4.3M notionalSold 50 BTC 82k call, 30 Oct 26 · $333K premium · 0x96b9…a701

Smart money, net

long $3.1MHYPE delta · long $2.8M BTC

Ideas, last 30 days

-2.3%on cost · 188 ideas · 48% profitable

Trade ideas

rule-based, not advice; each card shows what triggered it

Track record, last 30 days: 188 ideas, average -2.3% on cost, 48% profitable

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.

Pin risk: 98 ideas · -38.5% · 29% profitable
Gamma wall: 44 ideas · +20.4% · 77% profitable
Vol mispricing: 33 ideas · +28.8% · 58% profitable
Followed wallet: 13 ideas · +114.4% · 77% profitable

6 ideas

Followed walletETH

@koolkrypto223

KoolKrypto sold the bear call spread ETH 2.4k/2.8k 30 Oct 26

They paid: $249.13 · $623k for 2,500
Now: $218.7 (mark $227.6)
Their P&L: +$54k

Why this fires

Breakeven: $2,620
Best case: n/a
Traded: 09-23 00:11 · $13.77M

Sell the bear call spread ETH 2.4k/2.8k 30 Oct 26 on Derive.

KoolKrypto (@koolkrypto223), a wallet we follow, collected $623k for 2,500 of them on Derive by RFQ (sell ETH 2.4k call, 30 Oct 26, buy ETH 2.8k call, 30 Oct 26) with ETH at $2,753. 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 $13.77M notional, 2026-09-23 00:11 UTC.

KoolKrypto's wallet →

Vol mispricingZEC

ZEC options look cheap: buy a straddle

Cost: $268.8 (17.9%)
Max loss: $268.8
Breakeven: $1,231 / $1,769

Why this fires

Move: ±17.9%
Expiry: 2 Oct · 8d
Trigger: IV 120% vs RV 153%

Buy the 2 Oct 1.5k straddle on Derive.

ZEC has moved at 153% annualised over the last month (154% over the last week), but options are only pricing 120%. When the market moves more than options price in, owning options pays.

Rule: Implied 120% vs realized 153%, ratio 0.78 (rule fires below 0.85).

ZEC 2OCT26 chain →

Followed walletBTC

@koolkrypto223

KoolKrypto sold the short BTC 82k call, 30 Oct 26

They paid: $6,650 · $333k for 50
Now: $5,344 (mark $5,261)
Their P&L: +$69k

Why this fires

Breakeven: $87,347
Best case: n/a
Traded: 09-23 00:06 · $4.31M

Sell 1× BTC 82k call, 30 Oct 26.

KoolKrypto (@koolkrypto223), a wallet we follow, collected $333k for 50 of them on Derive by RFQ (sell BTC 82k call, 30 Oct 26) with BTC at $86,164. 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 $4.31M notional, 2026-09-23 00:06 UTC.

KoolKrypto's wallet →

Vol mispricingSOL

SOL options look cheap: buy a straddle

Cost: $9.2 (8.0%)
Max loss: $9.2
Breakeven: $105.8 / $124.2

Why this fires

Move: ±8.0%
Expiry: 2 Oct · 8d
Trigger: IV 56% vs RV 71%

Buy the 2 Oct 115 straddle on Derive.

SOL has moved at 71% annualised over the last month (90% over the last week), but options are only pricing 56%. When the market moves more than options price in, owning options pays.

Rule: Implied 56% vs realized 71%, ratio 0.79 (rule fires below 0.85).

SOL 2OCT26 chain →

Vol mispricingBTC

BTC options look cheap: buy a straddle

Cost: $3,564 (4.2%)
Max loss: $3,564
Breakeven: $81,436 / $88,564

Why this fires

Move: ±4.2%
Expiry: 2 Oct · 8d
Trigger: IV 34% vs RV 43%

Buy the 2 Oct 85k straddle on Derive.

BTC has moved at 43% annualised over the last month (61% over the last week), but options are only pricing 34%. When the market moves more than options price in, owning options pays.

Rule: Implied 34% vs realized 43%, ratio 0.80 (rule fires below 0.85).

BTC 2OCT26 chain →

Cross-venueHYPE

The same contract is 65 bps cheaper on Deribit than on Derive

Edge: $0.62 (65.1 bps)
Size: 425 · $264.63
Risk: leg risk

Why this fires

Trigger: >5 bps after fees

Buy on Deribit at $13.72, sell on Derive at $14.4.

The HYPE 100 put, 25 Dec 26 is offered at $13.72 on Deribit and bid at $14.4 on Derive. After both venues' fees that is $0.62 per contract of locked-in edge.

Rule: 65.1 bps of forward after fees (rule fires above 5 bps).

Arb scanner →

Notable trades

Derive · Last 24h · Ranked by unusual activity

Full tape

Sold1,500 × bear call spread ETH 2.4k/2.8k 30 Oct 26
$4.1M
$373.5K net received
KoolKryptospread trader23 Sept, 00:0025× this wallet's usual size
3 more
- 36% win rate · -$1.02M this month
- Followed wallet
- 2-leg package, net credit
Sold50 BTC 82k call, 30 Oct 26
$4.3M
$332.5K premium
KoolKryptospread trader23 Sept, 00:0626× this wallet's usual size
2 more
- 36% win rate · -$1.02M this month
- Followed wallet
Sold100 × short strangle ZEC 2k/1.6k 30 Oct 26
$161.7K
$30.8K net received
0xb4b8…4df9premium seller23 Sept, 05:516× this wallet's usual size
3 more
- 67% win rate · +$806k this month · on the smart money list
- smart-money wallet
- 2-leg package, net credit
Bought5,000 × bull put spread HYPE 48/54 25 Dec 26
$476.6K
$1.8K net paid
0x5ef1…4c65two-way trader23 Sept, 12:07143× this wallet's usual size
2 more
- 45% win rate · +$60k this month
- 2-leg package, net debit
Sold158.7 ETH 2.8k call, 9 Oct 26
$424.1K
$11.7K premium
0xa7cd…4e95upside buyer23 Sept, 21:2223× this wallet's usual size
2 more
- 71% win rate · +$117k this month · on the smart money list
- smart-money wallet

Open interest and flow

nearest expiry by strike · net premium by expiry, 24h

BTC 24SEP260.4 days

spot $84,567 max pain $74,000 wall $88,000

ETH 24SEP260.4 days

spot $2,691 max pain $2,675 wall $2,750

← Net soldNet bought →

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.

Data timing

This page was calculated at 23 Sept, 22:57 UTC and checks for updates every 5 minutes while visible. Scheduled updates: quotes every minute; trade sync and alerts every 5 minutes; wallet statistics, cohorts and idea results every 15 minutes; wallet performance hourly.

Individual sources can be older than the page, and a check can return the same cached page while a newer version is prepared. Automatic checks pause in hidden tabs and catch up when you return.

Calculations and trade ideas use fixed rules and templates, not AI.

How to read this page

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.