Trader buys DOGE call options worth $2 million as the memecoin market heats up
In a surprising development for the cryptocurrency community, a trader has purchased a $2 million call option on DOGE with an exercise price of $0.22 on Wednesday.
DOGE is currently trading at $0.16 and the purchased call option will expire on June 14, meaning popular memecoins will have to increase by more than 31% for this trade to be profitable.
Options are derivative contracts that give the buyer the right to buy or sell an asset at a predetermined price before the contract expires. If the underlying asset does
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