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 options-flow note interprets recent Bitcoin activity against a backdrop of strength in gold and macroeconomic risk. It says spot and ETF inflows had not prompted substantial fresh call buying, while traders opened put sales across several strikes and…
This weekly market note reviews Bitcoin and Ether futures, perpetual swap funding, and options volatility and skew after ETF-related event risk had passed. It reports annualised futures yields near 10% for both assets, alongside consistently positive…
The episode links rising long-term government bond yields and large borrowing needs with a possible future increase in policy liquidity, which the speakers see as a potential catalyst for Bitcoin. It also reviews Bitcoin’s recent breakout: volatility rose at…
This options-flow note describes aligned BTC and ETH activity around an approaching ETF decision. It reports fast-money buying of near-dated August and September calls, alongside a likely time-weighted-average-price BTC spot buyer. The author interprets…
This weekly review examines a sharp crypto market decline associated with spot selling and uncertainty about Federal Reserve policy. It distinguishes the episode from a derivatives-driven liquidation shock: the article reports that hedging remained available…
This weekly market recap uses options implied volatility, volatility skew, perpetual swap funding, and futures basis to compare positioning in Bitcoin and Ether. It reports that short-dated implied volatility declined ahead of the Federal Reserve meeting…
This weekly report summarizes BTC and ETH spot, perpetual funding, and options conditions during a volatile period. It describes both assets giving back much of a weekend advance, short-tenor implied volatility rising, and volatility term structures…
This brief market-flow commentary examines how option selling may affect Bitcoin volatility around a consumer-price release. It reports that traders favored low-premium speculative positions, while a large seller repeatedly offered March calls during spot…
This market note links Bitcoin’s near-term outlook to shifting macro conditions and corporate treasury demand. It describes possible support from expectations of easier monetary policy, alongside risks from equity-driven deleveraging, slower institutional…
The document explains an option’s price as intrinsic value plus extrinsic value. Intrinsic value measures how far an option is in the money: for a call, it is the underlying price minus the strike; for a put, it is the strike minus the underlying price.…
The article presents a defined-risk bear call spread for a view that Bitcoin may struggle to advance above a resistance area and could move sideways or lower. The example sells an August 30 call at a $65,000 strike and buys a call at $65,500, collecting a…
This commentary reviews a crypto sell-off associated with tariff news, including a reported wave of liquidations and a sharp V-shaped reversal. It compares realized and implied volatility in BTC and ETH, noting a particularly large move in ETH realized…
This market commentary links rising downside concern in BTC and ETH to weakening prices, macroeconomic uncertainty, and renewed demand for puts. It reports falling realized and short-term implied volatility before a sell-off, followed by a rise in put skew…
This tutorial explains how option value separates into intrinsic and extrinsic components, then focuses on implied volatility as a function of strike and expiry. Because market volatility varies across the surface, a single constant-volatility Black–Scholes…
This weekly market recap describes how the FTX collapse shaped BTC and ETH derivatives. Annualized futures yields remained below zero for both assets, while BTC at-the-money implied volatility rose gradually from post-collapse levels and ETH volatility…
This short options-flow commentary describes reported Bitcoin call activity ahead of US–China trade details. It notes buying in June-to-September call spreads and 1-by-2 call spreads, concentrated around strikes from $110,000 to $120,000, alongside sales of…
This commentary interprets a November 28, 2023 snapshot of at-the-money implied volatility term structures and SABR smile skew for Bitcoin and Ethereum. Both assets show a rise in implied volatility beginning around the 60-day tenor, near the late-January…
This weekly report compares BTC and ETH derivatives during a rally associated with improved sentiment around traditional financial institutions entering crypto. It highlights a divergence: both spot assets rose, but BTC options carried higher implied…
This weekly report tracks BTC and ETH derivatives after both spot markets retreated from local highs. It interprets the move as a familiar reduction in leveraged long exposure: futures yields and perpetual funding fell, while options skew shifted toward…
This analysis interprets a crypto downturn through two historical comparisons: the dot-com collapse and the 1990s rate-hiking cycle. It describes how institutional failures and asset liquidations can trigger further selling, damage confidence, and transmit…
This podcast discussion examines why gold and silver rose sharply while crypto stayed range-bound, and considers macro liquidity, geopolitical developments, and possible US government shutdown effects on crypto legislation. The speakers compare gold with…
This weekly market review uses spot moves, implied volatility, skew, term structure, open interest, and reported options flows to assess Bitcoin and Ether positioning around repeated tests of Bitcoin’s $25,000 area. It describes short-dated BTC calls moving…
This market update interprets Bitcoin and Ether price action, volatility, skew, and options flows ahead of the US election. It links Bitcoin’s rise toward $69,000 to seasonal strength and ETF demand, while noting that a strong US dollar may be limiting…
This weekly recap compares BTC and ETH derivatives through futures-implied yields, perpetual swap funding, at-the-money implied volatility, and 25-delta risk reversals. It describes spot prices as range-bound after a recovery, BTC yields as broadly flat, and…