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 recap describes how military escalation involving Iran, Israel, and the United States affected BTC and ETH spot prices and derivatives positioning. The report tracks implied volatility term structures, perpetual funding, futures-implied yields,…
This educational article introduces calls, puts, option premiums, and implied volatility before outlining a butterfly strategy for a market expected to consolidate. Its example assumes BTC remains within a stated price channel through expiration, with a…
This weekly recap tracks BTC and ETH futures, perpetual funding, and options during a pause in a broader decline in risk appetite. It reports that futures yields continued to fall and funding stayed negative, while the options market’s preference for…
This weekly option-flow note examines BTC and ETH trading around an FOMC meeting. Activity was light ahead of the event, implied volatility firmed only slightly, and skew was described as benign. After the meeting passed without a shock, spot and realized…
This weekly market recap interprets BTC and ETH derivatives data alongside spot-market conditions. It connects weak spot prices and ETF outflows with futures trading below spot, neutral-to-negative perpetual funding, and options skew that favors puts. The…
This review traces the FTX failure from early doubts about its finances through withdrawals, a liquidity halt, and bankruptcy. It argues that market fragility had built up after earlier institutional losses: locked or illiquid investments created funding…
This podcast episode features Deribit’s chief risk officer and a senior trader from Laser Digital discussing current crypto market developments. Topics include a Bitcoin rally following an assassination attempt on Donald Trump, the expected launch of Ether…
This commentary analyzes the market response to a court ruling that challenged the SEC’s reasoning for rejecting Grayscale’s proposed conversion of its Bitcoin trust to an ETF. It links the news to a rise in Bitcoin’s price and changing crypto options…
This weekly market review examines how a broad selloff affected Bitcoin and Ether spot prices and derivatives. It tracks futures yields, perpetual swap funding, at-the-money implied volatility, and 25-delta option risk reversals, with additional views of…
The article reviews disclosed positions associated with Michael Burry and Nancy Pelosi, then focuses on why an investor might use deep in-the-money call options instead of buying shares outright. Using a Google call example, it compares the capital required…
This market commentary examines how a false report of spot Bitcoin ETF approval triggered a rapid price spike, a subsequent correction, and a sharp rise in realized volatility. It connects those moves to option-market changes: short-dated implied volatility…
This weekly Bitcoin options note describes cautious positioning before the Thanksgiving holiday. It reports buying of short-dated puts and longer-dated risk reversals, alongside put-hedge profit taking and a put spread structure. The author interprets the…
This commentary considers whether rising Treasury yields could expose financial-market vulnerabilities and compares the setting with conditions preceding the 1987 crash. It notes stress indicators including unrealized bank securities losses, weakness in a…
The article develops a bearish Ether thesis by combining chart support levels with an estimate of value based on Ethereum network revenue. It proposes a December 2023 put spread with strikes at 1,400 and 1,200, arguing that it could offer defined-cost…
This weekly market recap describes conditions in Bitcoin and Ether futures, perpetual swaps, and options. It compares annualized futures yields and funding rates, then reviews at-the-money implied volatility, 25-delta risk reversals, volatility surfaces, and…
This weekly report reviews Bitcoin and Ethereum derivatives during a spot price rally. It describes rising annualized futures yields and positive perpetual swap funding as signs of stronger bullish positioning, while implied volatility remained within a…
This market commentary describes Bitcoin ETF inflows as a source of spot market support while characterizing options activity as subdued and mostly technical. The author links rangebound trading in Bitcoin and Ethereum to lower realized volatility and…
This campaign notice describes a promotion for trading MATIC options and explains how a cash settled call payoff can be calculated at expiry. Its example uses a call with a stated strike and contract multiplier, then calculates the payoff from the difference…
This brief market note examines options activity after cascading spot and futures liquidations over a weekend. It observes that options closures were limited and that implied volatility, after an initial spike and retracement, did not show the sustained bid…
The article argues that high interest rates, subdued trading activity, and limited fresh liquidity constrained BTC and ETH during the summer period it discusses. It links muted prices and low volatility to reduced retail participation, institutional flows…
This weekly snapshot summarizes BTC and ETH derivatives conditions using perpetual funding, futures implied yields, at-the-money implied volatility, and options risk reversals. It reports BTC trading within a narrow band near its recent high after a brief…
The article interprets Bitcoin and Ether volatility markets amid expectations for spot Bitcoin ETF decisions. It reviews realized and implied volatility, term structures, carry, call skew, option flows, and dealer gamma positioning, then relates these…
This market note describes Bitcoin and Ether option positioning during an early-January 2022 decline. It reports that broad January optimism faded as selling and rotations into selected altcoins coincided with weak spot follow-through. Ahead of disappointing…
This Portuguese-language course section introduces volatility as a measure of changes in an underlying asset’s price. Its listed scope includes historical volatility, option moneyness (in-the-money, at-the-money, and out-of-the-money), intrinsic and…