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
This commentary reviews BTC and ETH options after a sharp selloff and volatility spike. It compares the surge in short-dated at-the-money implied volatility and downside risk reversals with their subsequent retreat, then discusses how downside skew remained…
This weekly market commentary interprets BTC and ETH derivatives indicators during a rebound after a holiday lull and a burst of geopolitical volatility. It tracks implied volatility, perpetual funding, futures yields, risk reversals, ETF flows, and an…
This market commentary recounts option activity around a CPI-driven rally, a subsequent reversal, and optimism about the timing of Ethereum ETF approvals. It describes call buying across Bitcoin expiries during the initial bounce, followed by call unwinds,…
The document presents a bullish ETH options setup based on a sideways daily chart, repeated tests of support near $2,860, a prior move to $4,080, and optimism around Ethereum ETF approvals. The proposed bull call spread buys the November 8, 2024 $4,000 call…
This report examines whether increases in Bitcoin mining difficulty coincide with changes in options pricing. It proposes that miners facing tighter margins may sell out-of-the-money calls to raise near-term income. The report uses the SABR smile’s Rho…
The article interprets BTC and ETH options positioning during a market pullback ahead of a Federal Reserve speech. It links BTC’s decline, negative perpetual funding, and traders’ de-risking to a shift toward put premium. The reported flow includes demand…
This options-flow commentary describes traders rolling hedges beyond a quarterly March expiry into April amid geopolitical and political uncertainty. The reported flows favor downside protection: traders bought April puts and put spreads at several strikes,…
The article examines how Bitcoin markets responded to the announcement of a U.S. strategic Bitcoin reserve. It describes a sharp decline in implied volatility after the news, largely unchanged open interest in perpetual futures, and options activity…
The article reviews a period of weakness in Bitcoin and Ethereum alongside rising realized volatility. It notes that Bitcoin has often struggled in September, while broader equity-market pressure and election uncertainty are cited as possible influences on…
This podcast episode outline frames Bitcoin’s approach toward prior highs in the week before the US election. Its brief market discussion notes that call skew was less pronounced than the hosts would normally expect during a potential breakout. The episode…
This market commentary considers how weak price movement in Bitcoin and Ethereum coincided with falling realized and implied volatility amid uncertainty over the US debt ceiling. It reports realized volatility below 30% for both assets and describes implied…
This weekly review examines subdued Bitcoin and Ethereum prices alongside rising crypto volatility as investors awaited Federal Reserve and other central bank decisions. It links the prospect of tighter liquidity and uncertainty around inflation and the…
This weekly report surveys derivatives indicators for Bitcoin and Ether during a period of changing spot prices. It tracks perpetual swap funding, futures implied yields, at-the-money implied volatility, and 25-delta risk reversals. BTC traded in a…
This market update describes a period of low realized and implied volatility in BTC and ETH options, alongside a shift in option skew toward calls. The one-week BTC skew moved from a mild put premium to a slight call premium. Further out, BTC calls carried a…
This options-flow note tracks large ETH call purchases during US-Iran negotiations, followed by BTC put buying after the talks failed to produce progress and prices declined. It lists several ETH call trades by expiry, strike, premium, and notional value,…
This weekly review links crypto market conditions to Federal Reserve policy expectations and macroeconomic uncertainty. It argues that volatility had fallen after a widely anticipated rate increase, while options implied volatility stopped rising and options…
This weekly report reviews BTC and ETH futures, perpetual funding, and options markets during a period when ETF application deadlines were expected to matter. It describes a volatility term structure kink beyond the anticipated deadline, which the report…
The article explains how macro uncertainty and crypto’s changing relationship with equities can inform options positioning. It discusses BTC and ETH performance during the 2020 pandemic period, correlations with the S&P 500, and the possibility that…
This weekly market recap surveys BTC and ETH futures yields, perpetual swap funding, and options volatility and skew. It describes positive futures-implied yields and funding rates, which indicate that traders were paying to maintain long exposure. Implied…
The article reviews Bitcoin’s relative resilience during renewed Middle East tensions alongside caution in BTC and ETH options markets. It notes that BTC briefly fell and recovered, while short-dated puts became more sought after and implied volatility…
This weekly review links crypto price moves to shifting expectations for inflation, central-bank rate hikes, and geopolitical risk. It argues that investors had priced in severe outcomes early, potentially limiting further downside while also constraining…
This desk commentary describes sharp BTC and ETH price swings during the FTX crisis and tracks their effects on options markets. It reports weekly expiry implied volatility peaks of 175% for BTC and 250% for ETH, alongside a strong negative relationship…
The article proposes a June 2024 BTC bull call ladder for traders expecting further gains. The structure buys one out-of-the-money call at $80,000 and sells calls at $85,000 and $90,000. It describes a net debit of $382 per BTC and identifies the…
This short reference outline introduces core Bitcoin options topics: how puts differ from calls, profit and loss, maximum gain and loss, buying versus selling, and breakeven prices. Its key contextual point is that Bitcoin options may use the underlying…