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
The document introduces BTC DVOL futures as contracts linked to Deribit’s 30-day forward-looking implied-volatility index. It distinguishes that measure from realized volatility and explains that annualized DVOL can be converted approximately into an…
This weekly report compares BTC and ETH futures, perpetual swap funding, and options markets. It characterizes volatility skews as bullish across maturities, with stronger conviction in BTC, and says ETH futures-implied yields remain positive but below BTC’s…
This market commentary tracks BTC options activity after spot broke above $89,000. It reports buying of calls across April to June expiries, including higher June strikes and call spreads, alongside profit-taking in April calls and sales of volatility…
This weekly snapshot reviews BTC and ETH futures-implied yields and options markets. For BTC, it describes annualized yields recovering from a sharp June decline into a narrower range, while short-dated futures prices remain close to spot. ATM implied…
This weekly report summarizes BTC and ETH derivatives conditions using futures yields, perpetual swap funding, and options volatility measures. It says spot price swings did not produce a similarly large rise in implied volatility, which stayed within a…
This market commentary combines Bitcoin price context with volatility measures and macroeconomic headlines. It notes that 30-day implied volatility was near the low end of its recent ranking despite a weekly price rise, and gives an annualized reading…
This brief options-flow commentary describes conflicting signals in Bitcoin and Ethereum derivatives. In Bitcoin, purchases of longer-dated calls continued despite concern about seized-coin movements and potential Mt. Gox distributions, while implied…
This options-flow note describes positioning in Bitcoin after a sharp decline from a recent high. Put buyers took profits around lower price levels, while some traders retained downside protection through spot exposure paired with puts. The largest…
The commentary uses Bitcoin’s spot ETF launch as a historical comparison for assessing possible Ethereum price action around an Ethereum ETF decision. It tracks Bitcoin’s rally from early ETF-listing signals through approval and later fund inflows, then maps…
This weekly report surveys BTC and ETH derivatives after a period of weaker funding and shifting options sentiment. It describes rising BTC perpetual funding as a possible return of bullish positioning, while futures-implied yields remain in a broader…
This weekly market report describes a rally in BTC and ETH alongside rising futures-implied yields and elevated perpetual funding, which it interprets as stronger demand for leveraged long exposure. It also reports inverted short-dated implied-volatility…
The article explains how large concentrations of open interest near expiry can affect options and underlying markets. At-the-money options have especially high gamma close to expiration, so small underlying price moves can sharply change their deltas.…
This options-flow note interprets BTC and ETH trading around creditor repayment timing, a sharp BTC move, and indications of an Ethereum ETF trading date. It describes a fund shifting from distant December BTC calls into an August at-the-money straddle, a…
This monthly review explains how macroeconomic announcements and banking stress shaped BTC and ETH options volatility in March 2023. It tracks at-the-money implied volatility across maturities, the volatility smile’s skew, and differences between the two…
This market note interprets recent crypto options activity amid a Bitcoin rally and ahead of the expected start of Ether ETF trading. It describes concentrated buying of Bitcoin calls across several expiries and strike levels, with more than six million…
This podcast episode reviews crypto market weakness following the ByBit hack, alongside discussion of macro conditions, political developments, institutional flows, and the evolution of the digital asset market. The hosts present a broadly constructive…
This weekly report describes the reaction of BTC and ETH derivatives markets to the collapse of FTX. It notes that annualized futures yields fell sharply below zero, implied volatility spiked and remained elevated, and short dated options carried the highest…
This weekly snapshot reviews BTC and ETH futures yields, perpetual funding, and options volatility after a price pullback and recovery. It reports that short dated futures yields rose from recent lows, funding stayed positive but modest, and implied…
This weekly market report reviews Bitcoin and Ether derivatives through perpetual funding rates, futures-implied yields, at-the-money implied volatility, and options risk reversals. It also references risk appetite indices and compares volatility surfaces…
This weekly report reviews Bitcoin and Ether derivatives during a spot rally that tested prior highs. It tracks futures-implied yields, perpetual swap funding, at-the-money implied volatility, and 25-delta risk reversals, alongside exchange comparisons and…
The article argues that low historical implied-volatility percentiles could make Bitcoin options relatively inexpensive ahead of possible October catalysts. It cites anticipated decisions on spot Bitcoin ETF applications, a court-related Grayscale matter,…
The article reviews a crypto-market recovery after a major liquidation episode, pointing to rebuilding volumes and open interest, returning liquidity, and institutional ETF inflows as signs of stabilization. It also notes that crypto has lagged equities and…
The article interprets reported BTC and ETH options trades, connecting option structures with possible hedging or directional views. In BTC, it describes put purchases around the sale of a large position, firmer put skew during demand, subsequent…
This market commentary reviews crypto spot trends, realized and implied volatility, options positioning, and BTC–ETH volatility spreads during a rally to fresh highs. It attributes Bitcoin strength to spot ETF inflows and other institutional demand, while…