PANews reported on February 21 that Lin Chen, head of Asia Pacific business at Deribit, disclosed on the X platform that an investor bought a $3,000 ETH call option at the end of March and sold a $4,000 call option at the same time, totaling 3,500 ETH per side and paying a premium of $382,000. Analysts believe that this transaction is a reduction in positions, that is, closing the previous bear market call option spread. IV volatility has plummeted recently, and short volatility has stopped profits.