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 market commentary examines BTC options activity during a sharp spot decline associated with German government BTC sales, Nasdaq weakness, and Mt. Gox transfer notifications. Despite expectations that uncertainty might raise implied volatility and put…
This report reviews how BTC and ETH derivatives responded to a spot-market selloff. Short-dated implied volatility briefly rose above longer-dated volatility, inverting the term structure, before volatility fell. ETH implied volatility remained five to ten…
This weekly market review tracks BTC and ETH futures yields, perpetual swap funding, and options volatility. It reports that annualized yields for both assets rose, reaching levels last seen around the buildup of leverage before BTC’s ETF announcement.…
This weekly report reviews BTC and ETH futures yields, perpetual swap funding, options volatility, and volatility skews. It describes a rebound in spot prices after a selloff, alongside increases in at-the-money implied volatility that did not break the…
This market note tracks changes in Bitcoin and Ether options flow around news that Grayscale prevailed against the SEC. Before the news, the author describes mixed positioning: call buying at several expiries coexisted with downside hedges and offered calls.…
This review describes the 2022 collapse of UST and LUNA as a crisis amplified by fragile market confidence, low liquidity, and an unstable backing structure. It contrasts UST’s algorithmic link to LUNA with a currency peg supported by substantial…
This podcast episode brings together crypto and financial-market commentators to discuss a Bitcoin market dip amid tariff uncertainty, stagflation concerns, and changing expectations for liquidity and Federal Reserve policy. The episode is framed around…
This weekly report examines BTC and ETH futures, perpetual swap funding, and options volatility. It describes implied volatility falling in both assets after early-January ETF event risk had passed. Although volatility declined, out-of-the-money call…
This weekly market recap connects macroeconomic commentary about the Federal Reserve with moves in BTC and ETH derivatives. It reports that both assets’ implied volatility rose across the curve as spot prices fell. BTC futures positioning appeared less…
This weekly report surveys BTC and ETH derivatives through futures yields, perpetual swap funding, at-the-money implied volatility, volatility surfaces, and SABR skew. It describes futures trading above spot across sub-year tenors for BTC and ETH, alongside…
This desk commentary examines Bitcoin and Ether options around a Federal Open Market Committee rate decision. Before the announcement, front-end implied volatility rose while spot prices were relatively steady; after the rate increase, volatility fell…
This weekly report reviews Bitcoin and Ether derivatives during a sharp spot rally followed by some retracement. It tracks three directional indicators—options smile skew, perpetual swap funding, and futures-implied spot yields—and describes each rising with…
This short market commentary describes Bitcoin options positioning around an upcoming US CPI release. It reports continued buying of September puts on spot declines and calls on rallies, alongside purchases of out-of-the-money October calls at progressively…
This market commentary interprets a change in Bitcoin options positioning. After prior purchases of January and February calls at several strikes, the author reports selling some of those positions, including a full exit from one January call position and…
The article outlines a bullish-to-neutral ETH options setup for an expiry on August 30, 2024. It proposes buying one out-of-the-money $2,800 call and selling two $2,900 calls with the same expiry. The stated rationale combines a pattern of higher highs and…
The commentary compares Bitcoin’s 2023 price and volatility behavior with US equities and the S&P 500 volatility benchmark. It reports that Bitcoin gained substantially year to date while its recent return correlation with equities fell near zero. The…
This market commentary examines a period of unusually quiet Bitcoin and Ether trading, relating low realized volatility and weaker volumes to falling implied volatility and changes along the options term structure. It compares the two assets’ volatility…
The note reviews recent Bitcoin and Ether option activity alongside a sharp weekend rise in Bitcoin. It describes traders rolling November calls to higher strikes, adding December upside calls, and buying longer-dated call spreads and straddles. Although…
This weekly report summarizes Bitcoin and Ether derivatives after the ETF announcement event. It describes front-end implied volatility falling as event risk passed, while both term structures remained moderately inverted. Demand for short-dated…
The article examines subdued Bitcoin and Ether volatility during a period of range-bound prices, relating options pricing to macroeconomic uncertainty, weakening crypto activity indicators, and possible catalysts such as the Bitcoin halving. It compares…
This market note describes a shift in Bitcoin options activity: traders continued to pay for downside protection while also buying March and April calls at the 75,000 strike. The call purchases expressed a more optimistic directional view and took advantage…
The note reviews Bitcoin and Ether option activity around a weekend rally linked to a delay in US government shutdown concerns and subsequent enthusiasm for Ether futures ETFs. Buyers took October Bitcoin calls while implied volatility barely responded to…
This weekly report reviews BTC and ETH derivatives during a broad crypto selloff in November 2025. It describes falling spot prices, elevated implied volatility, and options smiles skewed toward puts, suggesting demand for downside protection. ETH showed…
This market recap reports October activity in BTC options and the wider crypto derivatives market. It describes record monthly turnover and open interest, rising options volumes, a large block trade, and higher BTC realized volatility during a month when BTC…