A notable trade hit IBIT options as 2,100 November 2025 $60 calls were bought for nearly $900K in premium. The sweep order, executed at the ask, signals urgency and conviction from buyers. With IBIT trading at $66.86 at the time of the trade, the strike is already in the money by ~10%.
The trade represents medium-term sentiment as the contracts have a bit over 2 months to expiry. At the time of the trade, volume (2,100) represented about 9% of existing open interest 22,473. This signals that the contract has ample liquidity for traders to get in and out of efficiently.
Volume and Open Interest Data
The IBIT options November 2025 $60 calls saw a major spike in activity on September 16th. 21,522 contracts traded hands while open interest jumped by +16,579 contracts from the previous trading session. This signals a large wave of new positioning.
The following day, volume dropped sharply to 329 contracts, but OI remained elevated at 22,463. This confirms that most of the prior day’s trades were held rather than closed. On September 18th, volume picked up again to 2,359 contracts while OI ticked slightly higher to 22,473, suggesting steady accumulation. Contract prices fluctuated between $8.05 and $8.85, with implied volatility holding around 40%–41%.
More Notable Options Trades Observed
Another notable trade hit IBIT options with the purchase of 400 January 2028 $50 calls at $29.50 per contract. Committed capital totaled roughly $1.2 million in premium. The trade was executed as a Sweep order, highlighting urgency and strong conviction from buyers.
With IBIT trading around $66.96 at the time of the trade, these calls are already deep in-the-money by nearly $17. This gives the position considerable intrinsic value and long-term upside exposure. Daily volume came in at 2,309 contracts, which is significant compared to the existing open interest of 2,869.
What’s Happening with Bitcoin
Bitcoin has recently surged above $117,000 in September 2025. This marks its strongest monthly rally since 2012 as the Federal Reserve cut interest rates for the first time in nine months, bringing renewed investor optimism to the crypto market. The price jump has defied historical trends of September weakness for Bitcoin and prompted analysts to predict a bullish “Uptober”. Consensus of ongoing gains in the face of more monetary easing is now taking stage.
On the regulatory front, the US has enacted the GENIUS Act, setting clearer stablecoin standards and asset security requirements. Meanwhile, the SEC announced new rules to accelerate approval of crypto spot ETFs, further boosting confidence and accessibility for institutional investors. Together, these factors have contributed to a positive sentiment and lower volatility in Bitcoin’s performance heading into the last quarter of 2025.
About IBIT
IBIT is the iShares Bitcoin Trust, an exchange-traded fund (ETF) designed to give investors direct exposure to Bitcoin without the need to buy or store the cryptocurrency themselves. Managed by BlackRock, IBIT holds Bitcoin as its underlying asset and aims to track its price performance. This allows shares to be traded on traditional stock exchanges like any other equity. Such a structure makes it easier for institutional and retail investors to gain regulated, transparent access to Bitcoin while avoiding the complexities of wallets, private keys, and crypto exchanges.
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Disclaimer: Options trading involves significant risk and is not suitable for all investors. You may lose the entire investment, and certain strategies may result in losses exceeding the initial amount invested. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice. Always consult a financial or tax advisor before making investment decisions.
