A Bitcoin trader who posts as Crash says he turned $250,000 into nearly $3.4 million by trading options during the recent crypto sell-off. The claim came in an X post on October 30, 2026, along with a screenshot showing a balance of $3,387,187.14. The post says most of the balance was available, while a smaller part was in use.
The math is eye-catching. Moving from $250,000 to $3.4 million is a 13.6x multiple, or about $3.15 million in profit. Against the exact screenshot figure, the gain is $3,137,187.14, roughly a 1,255% return. But a screenshot of total assets is not a full trading record. It does not show order history, outside deposits, or how much was actually realized. That matters. I think readers should treat the numbers as claims until exchange data or audited records back them up.
Second claim on a single option
Crash also said one Bitcoin put option returned 150x. In a follow-up, he claimed he turned $130 into $25,000 in six hours with a single contract, calling it his best one-day percentage result. That would be a 192.3x move and a gain of $24,870, or about 19,131% before fees. It is not clear whether this $130 trade was the same as the 150x put. The posts do not give strike price, expiration, or contract details.
Why put options can move fast
A put option gives the holder the right to sell an asset at a set strike price under the contract terms. In cash-settled contracts, the seller pays the difference rather than delivering tokens. When Bitcoin falls, a put can gain value because the right to sell at the strike becomes more useful. The premium also depends on time left until expiration and implied volatility. Cheap out-of-the-money puts can swing sharply if spot price drops toward the strike. For the buyer, the maximum loss is the premium paid if the option expires worthless.
Crash did stress taking profits after big moves. He warned about low-liquidity derivatives, where the bid-ask spread can make real execution worse than the balance shown on screen. The next major monthly Bitcoin options expiry on Deribit and CME is set for the final trading session of November 2026. That date may draw institutional hedge adjustments ahead of central bank policy decisions. For now, the big return claim remains a social media post, not a verified track record.
The post Bitcoin Trader Claims $250K to $3.4M Gain During Sell-Off appeared first on TheCryptoUpdates .
