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 crypto derivatives recap compares BTC and ETH conditions using implied volatility, option skew, and a Risk Appetite Index. BTC is described as consolidating above $80,000 while its options skew remains short of a bullish tilt. Seven-day BTC…
This weekly BTC and ETH derivatives report surveys futures-implied spot yields, perpetual swap funding, at-the-money implied volatility, volatility surfaces, and 25-delta put-call skew. It reports that futures yields remained positive but moved toward zero,…
The commentary interprets recent BTC options positioning as a shift from heavy call overwriting toward persistent put demand. It describes a large call seller becoming less visible, while other participants continued to sell calls on short rallies or use…
This weekly report reviews BTC and ETH derivatives using at-the-money implied volatility, realized volatility, 25-delta risk reversals, and fitted volatility surfaces. It describes a summer lull in volatility, with short-dated BTC implied volatility reaching…
This weekly recap summarizes BTC and ETH derivatives conditions, combining perpetual swap funding, futures implied yields, and options indicators. It describes BTC and ETH spot prices as rangebound for the week after a large liquidation earlier in the month,…
The document outlines a long call butterfly on Bitcoin for traders expecting a modest short-term rise. The structure buys one call at a lower strike, sells two calls at the middle strike, and buys one call at a higher strike. In the cited example, the…
This market commentary reviews conditions in early 2023 across macro markets, crypto lending, derivatives, options flows, and DeFi. It links the FTX and BlockFi failures to a sharp slowdown in unsecured lending, then considers how rising traditional interest…
This podcast description outlines a discussion of rising crypto prices ahead of the April Bitcoin halving. The speakers consider profit-taking risk, persistent demand and supply dynamics, continued corporate BTC purchases, possible additions of Bitcoin to…
This market commentary examines crypto price resilience, volatility, and options positioning during a period of global uncertainty. It reports Bitcoin holding near $74,000 while equities and gold struggled, citing stablecoin growth, ETF inflows,…
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 weekly commentary surveys possible drivers of crypto market volatility, emphasizing that catalysts can come from outside digital assets. It discusses debate over bank custody rules for crypto and proposed stablecoin legislation, framing both as…
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 commentary compares Bitcoin and Ether market behavior with US equities and gold. It uses rolling 30-day return correlations to describe crypto’s renewed relationship with equities and gold after correlations had been near zero in July. It also compares…
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…
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…
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…