According to online reports, Lin, head of Asia-Pacific business at Derbit, wrote on the X platform that the largest bulk option for ETH today is: an investor purchased a put option of US$2200 at the end of March, totaling 10000 ETH and paid US$1.249 million in royalties. The analysis believes that the order is a reduction, that is, the put options previously sold will be closed, and the high probability option will stop losses in advance. It is estimated that they will go to the spot market to buy ETH to open a position.