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.
8,116 documents
The document frames a week combining a Federal Reserve decision, oil-market conflict risk, and quarterly options and futures expiry as a period of potentially elevated cross-asset volatility. It describes quad witching as the simultaneous expiry of several…
The article examines a crypto market sell-off in which liquidations were heavily concentrated in long positions. It links the episode to macroeconomic uncertainty following a strong U.S. jobs report and reduced expectations for a Federal Reserve rate cut,…
The document explains implied volatility (IV) as the volatility level implied by an option’s market price, reflecting expectations about future price movement. It describes deriving IV through Black-Scholes by finding the volatility input that makes the…
This overview distinguishes wallet types by connectivity and custody. Hot wallets provide convenient access for frequent transactions but face greater online exposure, while cold storage keeps keys offline. Custodial services hold keys for users, who must…
The document introduces Litecoin as a decentralized proof-of-work cryptocurrency launched by Charlie Lee in 2011. It describes Scrypt mining, a 2.5-minute block interval, an 84 million coin supply limit, and MimbleWimble Extension Blocks as an optional…
A cash-secured put is presented as a way to seek entry into a chosen cryptocurrency at a selected strike while receiving an option premium upfront. The seller reserves enough cash to buy the asset if assigned; if the put expires out of the money, the seller…
This roundup surveys several developments in crypto: a research and education hub, US policy proposals including a potential national cryptocurrency reserve, stablecoin regulation, cybersecurity, and Metaplanet’s Bitcoin treasury strategy. It says Metaplanet…
The guide defines a crypto flash crash as a rapid, severe price decline and outlines several possible drivers: algorithmic trading errors, manipulation, leveraged liquidation cascades, unexpected news, and thin liquidity. It explains how forced liquidations…
The article reviews Circle’s public listing and the surge in its share price on the first trading day, then describes ETF proposals tied to CRCL. The proposed approaches include covered-call income and funds targeting twice the stock’s daily performance…
The article reviews record November redemptions from Bitcoin ETFs and places them alongside outflows from Ethereum funds. It identifies falling crypto prices, recession concerns, and geopolitical uncertainty as possible drivers, and cites a large daily…
The article introduces put-call parity as a pricing relationship among a call, a put, the underlying asset, and the strike. It outlines a strategy that compares same-strike, same-expiry options, sells the relatively expensive side, buys the cheaper side, and…
The article describes Ethereum’s roles in stablecoin transfers, decentralized finance, real-world asset tokenization, and institutional holdings. It argues that these uses, together with staking, proof of stake, and anticipated network upgrades, support…
The document surveys common problems faced by retail traders, especially in derivatives markets. It discusses overconfidence and excess trading, regret aversion that can keep traders in losing positions, and herding in response to trends or media attention.…
The document explains shorting Bitcoin as selling borrowed BTC with the aim of buying it back later at a lower price. It surveys several ways to express a bearish view: borrowing through margin trading, using futures, buying put options, holding leveraged…
This overview compares spot crypto trading with derivatives, focusing on futures and options. Spot trading transfers ownership of the asset, while derivatives provide price exposure through contracts. The document describes futures as suited to directional…
The options wheel combines selling cash-secured puts with selling covered calls on an asset received through put assignment. A trader first reserves enough cash to buy the underlying at the put strike. If the put expires out of the money, the trader may sell…
The document introduces crypto exchange-traded funds as a way to obtain cryptocurrency exposure through conventional brokerage accounts. It distinguishes funds tied to spot assets from those tracking futures, and describes potential advantages such as…
This market note describes a period in which Bitcoin and Ether fell less than many altcoins during a pullback, despite altcoins also lagging during the preceding rally. It questions whether higher beta alone explains that pattern and suggests that capital…
This weekly market note describes how BTC and ETH derivatives conditions changed after a sharp risk-off event. It reports that short-dated implied volatility fell, while BTC volatility rose at the back end of the term structure. BTC funding returned to…
The commentary considers how a possible Ethereum ETF approval might affect ETH, using Bitcoin's ETF-era price action as a reference. It compares BTC's rally around a key listing milestone, its movement before approval, a short post-approval decline, and a…
The article reviews factors offered to explain Ethereum’s move above $3,000: recent ETF inflows, lower network fees, growth in total value locked, Layer 2 activity, and a break above the weekly EMA50. It also describes corporate interest in Ethereum for…
The document surveys factors presented as relevant to Ethereum’s price, including technical resistance and support, momentum indicators, options expiry measures, exchange reserves, staking, seasonal patterns, decentralized exchange activity, and…
This dated market commentary describes derivatives positioning in Bitcoin and Ether after roughly sideways spot trading. It reports that directional sentiment had eased and funding rates for both assets were near zero, following a negative Ether funding…
The article surveys factors it says traders can monitor in ETH options markets: expiry size, put/call ratios, maximum pain, open interest, liquidations, spot exchange flows, and price levels. It explains the put/call ratio as a rough sentiment gauge and…