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.
12,303 documents
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 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.…
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…
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…
The article compares Bitcoin and Ethereum volatility with equity volatility during 2022. It defines delivered volatility as a rolling 30-day standard deviation of log returns and describes how crypto volatility had generally moved alongside the S&P 500…
The article considers how a possible U.S. government shutdown could delay agency work, including Bitcoin ETF decisions, and interrupt macroeconomic data releases. Against recent crypto inflows, it argues that Bitcoin might remain range-bound into year-end…
This market review tracks a sharp Bitcoin breakout and the related moves in Ether, using options volatility, skew, term structure, block trades, funding, and liquidation data. It describes implied and realized volatility rising, call skew strengthening as…
This weekly market note describes cautious options positioning amid a rebound in equity indexes and stable crypto spot prices. It points to firm implied volatility, elevated put skew, low trading volume, and continued demand for risk protection. Earlier put…
The article examines how Bitcoin and Ether moved relative to equities, foreign exchange, and gold during 2020. It explains volatility as a measure of price variation and correlation as a consideration for diversification, while warning that estimates can be…
This market commentary tracks Bitcoin options activity around anticipated US futures ETF decisions in October 2021. It describes a period of accumulated call spreads and upside calls, alongside a notable short-dated put position interpreted as a hedge…
This podcast episode combines a discussion of digital asset infrastructure with a short-term crypto market review. The guest describes how blockchain, stablecoins, and tokenization could improve efficiency and transparency in financial markets, while the…
This weekly report examines BTC and ETH derivatives through a sharp selloff and subsequent spot-price rebound. It describes a large long liquidation event, declines below reported support levels, and outflows from spot ETFs. Short-tenor at-the-money implied…
This podcast listing outlines a discussion of crypto rates derivatives and market conditions. Its guest, the founder of Rho Labs, describes a platform offering rates products to more sophisticated clients. The listed topics include volatility in perpetual…
This commentary tracks how BTC options pricing shifted from a preference for downside protection toward a more balanced volatility smile. It compares SABR-calibrated implied volatility across strikes and tenors, noting that earlier smile flattening came from…