A record-breaking crypto options block trade with a notional value of $1.19 billion, equivalent to 11,350 BTC, was executed today. The trade involved a premium of $7.5 million and consisted of two main components: a September bull call spread of 3,800 contracts, betting on increased volatility and price in the medium to long term, and the sale of June at-the-money call options, forming a calendar spread with the September purchase. This strategy suggests a bearish outlook for June but anticipates a significant market movement in the third quarter, potentially up to a 50% increase. Despite current market stagnation, long-term positive factors continue to align with prevailing market sentiment.