A trader just learned the hard way that it’s pretty easy to lose $3 million in the volatile world of the crypto options market. The ether (ETH, +4.76%) put options seller took a large bet against a sharp drop in the cryptocurrency and ended up booking a massive loss on Tuesday as the token powering Ethereum’s blockchain tanked to a three-month low of $1,700. “The market moved just enough to force the trader to take a loss by buying back 5,000 contracts of the December expiry $2,560 put option sold earlier this quarter,” Gregoire Magadini, CEO of options analytics platform Genesis Volatility, told CoinDesk in a ... (full story)