According to @ai_9684xtpa, a single buyer purchased 3,000 BTC call options on Deribit with a USD 100,000 strike expiring on 2026-01-30, paying about USD 2.86 million in premium. According to @ai_9684xtpa, the reported break-even at expiry is approximately USD 100,953.67, implying the position loses money if BTC settles below that level on the expiration date. According to @ai_9684xtpa, if BTC finishes below USD 100,000 at expiry, the entire USD 2.86 million premium would be lost, though the buyer could exit earlier if BTC rallies.