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 weekly report surveys Bitcoin and Ether spot ranges, perpetual funding, futures-implied yields, and options volatility. During the reported week, prices consolidated after an earlier rally. Bitcoin perpetual funding returned to positive territory, while…
This commentary compares Bitcoin and Ether option smile skew after news of a Bitcoin spot ETF application. Both markets continued to price out-of-the-money puts at higher implied volatility than similarly distant calls, but Bitcoin’s call-put volatility gap…
The commentary examines a steep, uneven Bitcoin and Ether options volatility term structure near year-end. It explains how comparing implied volatility across expiries and considering roll-down or forward volatility can change the appeal of holding vega: a…
The article presents a bear call spread for traders expecting Bitcoin to remain bearish or move sideways. The example sells a May 2024 call at a $65,000 strike for $340 and buys a call at a $66,000 strike for $200, receiving a net credit of $140 per BTC. The…
The article describes a crypto options market shaped by global risk aversion, with macroeconomic uncertainty and forced deleveraging weighing on prices. It reports elevated realized volatility after a sharp decline, while implied volatility has eased…
The article describes a short strangle for a trader expecting Bitcoin to remain within a range. The position sells one out-of-the-money call at a higher strike and one out-of-the-money put at a lower strike, with the same underlying and expiration. Its…
This weekly market recap reviews Bitcoin and Ether price action alongside derivatives indicators. It reports a strong Bitcoin rally during April, supported in the article’s account by ongoing spot ETF inflows and optimism about US legislation. Both assets’…
This weekly flow note reviews Bitcoin and Ether options as both assets pulled back from record highs in November 2021. It describes Bitcoin put-focused risk reversals funded by calls, alongside a buyer of near-dated call spreads, and reports opportunistic…
This options-flow report examines Bitcoin and Ether trading around approval of a spot Bitcoin ETF. It describes an underwhelming Bitcoin price response after approval, followed by a sharp decline in near-dated implied volatility as positions tied to the…
This weekly options-flow commentary describes positioning as Bitcoin’s late-year rally faded in 2021. It reports purchases of December 31 puts, alongside January call spreads and calls, including positions expiring in early and late January. The author…
This market commentary tracks Bitcoin options flow around the inauguration and the launch of the TRUMP coin. It reports continued outright buying of February and March 120,000 calls, along with February call spreads, and heavier near-dated call buying as…
This trade idea presents an Ethereum call ratio spread for traders expecting limited upside around anticipated spot ETF developments and resistance near the $4,000 level. The example buys one July 26, 2024 call at the $3,700 strike and sells two calls at the…
This desk commentary examines crypto options trading during a period of strong Bitcoin price action and an approaching Ethereum network upgrade. It tracks how implied volatility and demand for options changed as spot prices pulled back and then recovered.…
The announcement describes a hybrid custody arrangement intended to speed institutional access to Deribit. Under the model, a custodian or brokerage can offer the exchange as a trading venue without first completing a full technical integration. The document…
This guide explains how to interpret several crypto options analytics views. It defines volatility skew as implied volatility across strikes or deltas, and term structure as at-the-money implied volatility across expiries. Comparing these charts can help…
The commentary reviews Bitcoin and Ether volatility, skew, term structures, option flows, and dealer gamma positioning ahead of a US CPI release. It frames the data as an event catalyst: stronger inflation could pressure prices, while softer inflation might…
This podcast episode covers crypto market developments through a discussion of on-chain analytics, macro headlines, and the renewed prospect of an Ether exchange-traded fund. The guest describes using detailed blockchain flow data to help assess trends in…
The commentary compares implied volatility smiles for Bitcoin and Ether options, focusing on the SABR rho parameter as a measure of tilt toward out-of-the-money calls or puts. At the cited snapshot, both assets show negative rho across maturities, while…
The trade note presents a defined risk bullish options position on MATIC, based on a retracement toward a stated demand zone, reported whale accumulation, and positive crypto developments. The proposed spread buys a call at a lower strike and sells a call at…
This weekly market review compares Bitcoin and Ether futures, perpetual funding, and options conditions. It tracks implied volatility term structures and 25-delta risk reversals, alongside annualized futures yields and perpetual funding rates. The report…
This weekly overview describes Bitcoin and Ether derivatives after a September 2024 Federal Reserve rate cut. It reports that spot prices and derivatives sentiment strengthened, while futures implied yields, which had been elevated at shorter maturities and…
The commentary examines Bitcoin derivatives around a report that the SEC might delay spot ETF approval. It describes how the rumor circulated amid elevated leverage, funding, and positive sentiment, alongside a sharp Bitcoin decline. The author says bullish…
The article links Bitcoin’s move above $100,000 to market catalysts including Federal Reserve Chair Jerome Powell’s comparison of Bitcoin with gold, anticipated corporate shareholder action, and reported inflows into U.S. spot Bitcoin ETFs. It then discusses…
The article reviews Bitcoin’s retreat after briefly moving above the stated $100,000 level, alongside market conditions expected around the next U.S. administration and January macro events. In options, it reports that volatility had fallen before a sharp…