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 reviews how macroeconomic stress affected BTC and ETH derivatives. It describes a sharp move lower in spot prices, negative put-call skew across both options markets, a brief period of negative ETH perpetual funding, and short-tenor…
This podcast description outlines a discussion of how the U.S. election outcome might affect crypto markets. The guests consider the investment landscape after BTC and ETH exchange-traded funds, the macro backdrop of Federal Reserve cuts, and whether…
This review connects Ethereum’s April 2023 Shapella upgrade with changes in spot prices, options pricing, and expectations for macroeconomic events. ETH rose after the unlock without an immediate selloff, while its options skew briefly became less put-heavy…
This market commentary examines how rising expectations of U.S. approval for spot ETH ETFs drove a sharp rally in Ether and repriced crypto options. It tracks higher realized volatility, an inverted ETH volatility term structure, stronger call skew, and a…
This podcast listing outlines a discussion among Deribit representatives about crypto options and market conditions during a period when Bitcoin reached new highs. The episode topics include the launch of options on XRP, SOL, and MATIC; institutional…
This weekly report reviews crypto derivatives conditions during a market selloff. It tracks BTC and ETH perpetual funding, futures-implied yields, at-the-money implied volatility term structures, and option risk reversals. The narrative links falling spot…
This article describes how a sharp rise in ETH and BTC prices can affect realized volatility, implied volatility, and demand across option strikes. It explains implied volatility as a market-priced quantity that traders can compare across strikes and…
This options-flow commentary describes demand for December Bitcoin calls around and above $100,000, including call spreads, a ladder, and a previously established condor. It contrasts that upside interest with continued demand for downside puts and elevated…
This weekly Bitcoin derivatives report outlines several market measures: futures implied yields across maturities, implied volatility changes after a spot-market selloff, put skew, and the shape of an options smile for a July expiry. Its stated findings are…
This weekly commentary interprets Bitcoin options activity as the market retreated after rallying above $40,000. It describes call selling at higher strikes and expiries, gradual accumulation of June 25 $36,000 puts, and sales of out-of-the-money puts at…
This market commentary links large realized moves in BTC and ETH with implied volatility that rose less, leaving volatility carry deeply negative. It describes both assets’ volatility term structures as being in contango, while short-term skew reversed from…
This option-flow note interprets BTC call activity during a rally toward 20,000. A holder of January 18,000 calls reportedly took profits as the price approached that level, while other traders rolled exposure into higher-strike January and February calls.…
This weekly market recap describes BTC and ETH futures, perpetual funding, options implied volatility, volatility surfaces, and put-call skew. It reports that futures remained above spot while yields trended lower for BTC and stayed broadly steady for ETH.…
The commentary distinguishes quiet markets caused by apathy from those where traders expect a major move but cannot agree on its direction. It argues that crypto’s tight trading range reflected uncertainty about regional bank stress and the US debt-ceiling…
This weekly flow commentary tracks how ETF-related spot pressure coincided with falling implied volatility in BTC and ETH. Early in the week, rangebound prices and heavy ETH call selling, including covered calls, weighed on volatility; ETH’s volatility proxy…
The article explains how to translate a winner-takes-all wager on Bitcoin exceeding a million-dollar threshold into familiar option payoffs. From the bullish bettor’s perspective, the payoff can be represented by a digital call that pays a fixed amount above…
This commentary reads BTC and ETH option trades as conflicting signals after a strong spot rally. Traders bought put protection and put spreads, while others positioned for further upside through call spreads and calls. The article also notes covered-call…
This market commentary interprets Bitcoin options positioning and implied-volatility changes around a Federal Reserve decision. It reports put-spread protection ahead of the announcement, followed by a 50-basis-point rate cut that lifted spot Bitcoin while…
This article links Bitcoin’s realized volatility to time-of-week and regional trading patterns, then discusses how those observations might inform options pricing and risk management. It describes a possible Saturday options-selling approach: when weekend…
The note presents a bearish options position based on Bitcoin’s rejection near $61,700 and expected difficulty breaking through a supply zone around $63,000. It describes selling a $63,000 call and buying a $64,000 call with the same expiry, collecting a net…
This desk commentary follows BTC and ETH options through late February and early March, as spot prices weakened, implied volatility fell, and sellers offered substantial size in benchmark expiries. It describes systematic buyers stepping into short- and…
This weekly report compares BTC and ETH derivatives conditions after a broad crypto selloff followed by a period of sideways spot trading. It uses futures-implied yields, perpetual swap funding, options implied volatility, and 25-delta risk reversals to…
This market commentary describes how unexpected discussion of a possible ETH exchange-traded fund approval coincided with a sharp rise in ETH spot prices and a rapid reversal in options positioning. Traders who had sold calls to earn yield on staked ETH were…
The article describes a crypto sell-off as a volatility regime change in which the pace of price movement matters more than directional forecasting. It reports realized volatility above 80 for BTC and above 100 for ETH, while saying implied volatility had…