Solana Enthusiast Places Large Bet on SOL Surpassing $400.

SOL Options Block Trade Indicates $400 Price Target by End of February

A large SOL options block trade was executed late Monday on the Deribit platform through the Paradigm OTC network, signaling expectations of a Solana (SOL) rally to $400 by the end of February.

The trade was structured as a bull call spread, involving a long position in the $280 strike call and a short position in the $400 strike call, with both positions totaling 10,000 contracts each and an expiration date of February 28, according to data tracked by Amberdata. This block trade, considered a strong indicator of institutional activity, suggests that investors expect SOL to perform strongly under Donald Trump’s presidency.

A bull call spread achieves its maximum profit if the underlying asset’s price hits or exceeds the short call’s strike price — in this case, $400. This implies the buyer is betting on a 55% increase in SOL from the current market price of approximately $257 within the next month. The buyer anticipates that SOL will rise past the $280 mark, potentially reaching $400, with a breakeven point around $300, according to Greg Magadini, Director of Derivatives at Amberdata.

This trade reflects a strong bullish sentiment towards Solana, indicating that traders are expecting a substantial price movement before the expiration date in late February.