Summer Trading Competition 2025 Top Traded Strategy: Long Call Butterfly Volumes: 890M What It Represents: - Precision over prediction - Traders aren’t gambling on massive moves — they’re targeting a narrow range, expecting the asset to hover around a key level. High risk-reward: - You’re paying a small premium for a defined risk / defined reward setup. Volatility Play: - Often used when implied vol is high and traders believe actual movement will disappoint. It’s a quiet bet during loud markets.(Deribit)