The recent launch of options trading for iShares Bitcoin Trust ($IBIT) has generated significant activity, primarily in call options, reflecting strong interest from retail investors. As of November 20, 2024, the majority of open interest in $IBIT options is concentrated in calls, similar to trends observed with MicroStrategy ($MSTR) and Bitcoin ($BTC). Notably, a call option expiring on December 20, 2024, with a strike price of $100 has been identified as the 10th most traded contract, drawing attention for its speculative nature. On the same day, a large buy of 4,000 January 2026 $40 calls was executed for $25 each, indicating bullish sentiment. The trading volume for options with strike prices extending to $100 for the end of 2024 has surpassed 10,000 contracts, with $IBIT closing at $53.72. The put/call ratio for $IBIT options has also shifted, reflecting a growing preference for calls as the price of Bitcoin continues to rise, prompting discussions of gamma squeezing—a strategy that has gained traction on Wall Street in recent years.