DeriveDeribit
Trade on DeriveBTC, SOL, XRP, 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. 128 other wallets have since put on the same legs, 101 of them new to Derive.
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 ETH 2.5k/2.6k 20 Sep 26 on Derive.
KoolKrypto (@koolkrypto223), a wallet we follow, paid $170k for 10,000 of them on Derive by RFQ (buy ETH 2.5k call, 20 Sep 26, sell ETH 2.6k call, 20 Sep 26) with ETH at $2,465. 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 $49.31M notional, 2026-09-17 15:37 UTC.
Buy the 2 Oct 1.35 straddle on Derive.
XRP has moved at 94% annualised over the last month (94% over the last week), but options are only pricing 59%. When the market moves more than options price in, owning options pays.
Rule: Implied 59% vs realized 94%, ratio 0.62 (rule fires below 0.85).
Sell the 25 Sep 110 call on Derive.
$1.97M of open interest sits at 110 (mostly calls), 3.9% above spot, expiring in 7.0 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: 18,614 contracts.
Buy the 25 Sep 4.4k/4.2k put spread on Derive.
Max pain is the expiry price at which option holders collectively lose the most. For 25 Sep it is $4,200, against spot at $4,394. Price often drifts toward it in the last days as hedges unwind; a tendency, not a rule.
Rule: Max pain $4,200 vs spot $4,394, gap -4.4% (rule fires beyond 1.5%).
Buy the bull call spread HYPE 87.5/97.5 2 Oct 26 on Derive.
KoolKrypto (@koolkrypto223), a wallet we follow, paid $111k for 50,000 of them on Derive by RFQ (buy HYPE 87.5 call, 2 Oct 26, sell HYPE 97.5 call, 2 Oct 26) with HYPE at $83.63. 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 $8.36M notional, 2026-09-17 20:20 UTC.
Buy on Deribit at $3.8, sell on Derive at $4.
The SOL 140 call, 25 Dec 26 is offered at $3.8 on Deribit and bid at $4 on Derive. After both venues' fees that is $0.14 per contract of locked-in edge.
Rule: 12.8 bps of forward after fees (rule fires above 5 bps).
Derive · Last 24h · Ranked by unusual activity
hedger · 13% win rate · +$3.62M this month
hedger · 13% win rate · +$3.62M this month
hedger · 58% win rate · +$8k this month · on the smart money list
mixed retail · 59% win rate · +$42k this month · on the smart money list
mixed retail · 59% win rate · +$42k this month · on the smart money list
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.