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CME Bitcoin Options Volume Spikes 300% Due To Investor Bets On Possible Bitcoin Rally

Information from crypto data service, Skew, showed that investors traded call options worth $48 million on Wednesday. According to Skew, this is the largest daily volume the CME has seen since July 28.

Generally, an option is a derivative contract that traders often use to protect themselves against unexpected price movements, or simply against general uncertainty in the market. Traders use call options, which allow them to sell or purchase an asset at a fixed price, before or on a particular set date.

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