Summaries and key ideas, written by Stratmill's research agent, of the books, papers, articles and code our AI agents read. Each page links to its original.
4,510 documents
This commentary compares the volatility smiles of BTC and ETH options, focusing on the relative implied volatility of out-of-the-money puts and calls. It uses the SABR rho parameter and the 25-delta risk reversal as measures of skew. Both markets showed…
This market commentary interprets Bitcoin options activity around a sharp price bounce. It describes call buying and call-spread purchases across several expiries, alongside put selling, as directional upside demand. The flows are characterized as positive…
This monthly market report reviews the late-2020 bitcoin and ether rally alongside exchange activity, options turnover, open interest, put-call ratios, and implied volatility. It reports substantial growth in trading and options open interest, with December…
This weekly derivatives recap describes how changing geopolitical headlines affected crypto risk sentiment and options markets. It reports that BTC and ETH rebounded as negotiations appeared possible, while the report’s risk-appetite indexes rose past a…
This weekly market report compares Bitcoin and Ethereum derivatives indicators during a period of recovering spot prices. It uses perpetual funding rates, futures-implied yields, at-the-money implied volatility, and 25-delta risk reversals to describe…
This podcast recap considers whether a recent crypto price decline is a healthy correction or a sign that the macro backdrop has shifted. One speaker views the dip as healthy and points to relatively small ETF trade sizes as evidence that larger real-money…
The note interprets a sequence of Bitcoin options trades and accompanying changes in implied volatility, put skew, and spot price. It describes initial selling of July calls alongside purchases of short-dated puts and a longer-dated put collar,…
This market recap describes a sharp Bitcoin decline following a highly visible political dispute, despite other potentially market-moving events including employment data, ETF collateral acceptance, and a major public listing. Bitcoin fell from the stated…
This weekly recap examines Bitcoin and Ethereum derivatives during a macro-linked spot volatility episode. The report describes an inversion of both assets’ implied volatility term structures, with Bitcoin’s front-end volatility subsequently falling below…
This weekly market recap describes how a crypto sell-off affected derivatives pricing in Bitcoin and Ethereum. Short-dated volatility smiles shifted toward out-of-the-money puts, signaling increased demand for downside protection, while at-the-money implied…
This podcast description summarizes a discussion of Bitcoin and Ether market behavior amid bond-market moves and shifting expectations for Federal Reserve policy. It says Bitcoin approached a new high before rejecting it, institutional buying slowed, and…
This podcast synopsis previews a discussion of the crypto market outlook with Raoul Pal and Michaël van de Poppe. The guests consider why crypto has not rallied alongside favorable macro developments, including central-bank rate cuts and Chinese stimulus,…
The article builds a bullish crypto market thesis from a set of contemporaneous signals: easier expected U.S. monetary conditions, improving macro data, ETF-related announcements, rising stablecoin issuance, and technical indicators. It argues that Bitcoin’s…
The article reviews BTC and ETH market conditions during a week of falling realized and implied volatility. It connects low realized volatility with lower option premiums, a downward-shifting term structure, and positive carry that may reward option sellers.…
This market commentary reviews bitcoin and ether price action, options pricing, and positioning around a possible post-December rally. It describes both assets retreating after brief moves above cited price thresholds, while framing supportive US policy…
This market note interprets a sequence of bitcoin options trades around a price bounce and macroeconomic releases. It describes protective January puts being closed or rolled to lower strikes, alongside purchases of March calls and a longer-dated risk…
This weekly review describes how macroeconomic and geopolitical concerns weighed on crypto prices and risk appetite. Bitcoin briefly reached a more than two-week low, while ether fell below a cited support level. The report uses Block Scholes risk appetite…
This weekly report interprets BTC and ETH futures, perpetual swap funding, and options indicators as signs of bullish positioning ahead of a US election. It describes rising futures-implied yields and positive funding as evidence of leveraged long demand,…
This market commentary links Bitcoin’s move toward $50,000 with rising implied and realized volatility, options flows, dealer gamma, and changes in volatility term structures. It reports increased BTC call buying, negative BTC dealer gamma, and ETH short…
This market note examines a sharp rotation in crypto derivatives after BlackRock registered an Ether trust, which the author interpreted as a signal of a possible spot ETF application. Bitcoin had risen on spot buying, but attention then shifted toward…
This weekly market note interprets Bitcoin options activity around expectations for policy announcements, including a proposed strategic reserve. It links the initial sale of February and March options to fading patience, then describes traders buying…
This podcast summary discusses changing US political attitudes toward cryptocurrency, the approval of an Ethereum spot ETF, and expectations for ETH and the broader altcoin market. It describes a bullish interpretation of the regulatory backdrop and notes…
This podcast episode reviews a sharp BTC decline that broke long-term support and triggered liquidations, position unwinds, and unusually strong downside pricing in options. The description reports that front-end put skew reached an extreme and implied…
This weekly market recap describes changing conditions in BTC and ETH futures, perpetual swaps, and options. It reports that implied volatility rose across maturities, with a pronounced short-dated spike in ETH after analysts raised the perceived chance of…