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 market recap compares spot prices with perpetual swap funding, futures-implied yields, and option volatility after a geopolitical de-escalation announcement. Bitcoin and Ether rose alongside other risk assets, but derivatives signals were mixed:…
The commentary links a strong crypto rally to liquid staking expectations ahead of Ethereum’s Shanghai upgrade, persistent call buying, changing option skew, and shifting expectations for US inflation and interest rates. It argues that increased staking…
This weekly report interprets BTC and ETH derivatives indicators as showing a shift toward short-term bullish positioning despite slower spot price movement. It highlights positive implied-volatility skew toward out-of-the-money calls across tenors, elevated…
This market commentary links a broad crypto rally to easing macro pressure and describes ETH’s unusually strong performance relative to BTC. It considers two possible interpretations: an ETH-specific move or a return to a pattern in which Bitcoin strength…
This weekly crypto derivatives recap tracks futures implied yields and options metrics for Bitcoin and Ether. It reports BTC yields recovering toward zero after a late November decline, while ETH yields remain between negative two percent and zero at tenors…
This podcast overview considers choppy crypto markets amid rate volatility and concerns about economic growth. Hosts discuss the macro backdrop and crypto volatility with a product strategy executive from Talos, including how the US election and an…
This weekly flow commentary tracks Bitcoin options around Tesla’s announcement of a Bitcoin treasury allocation. The author describes spot rising sharply, short-dated implied volatility surging as traders bought calls, and volatility easing as the market…
This market review examines the decline in Bitcoin and Ether volatility through May 2023. It compares one-month at-the-money option implied volatility with realised volatility calculated from hourly returns, and relates both measures to spot trading volume.…
The article proposes a relative-value approach to Bitcoin and Ethereum based on their historical relationship. Its statistical workflow measures correlation, fits a linear regression, estimates beta, tracks residuals, tests cointegration, and considers a…
The commentary examines how Bitcoin and Ethereum markets reacted to a false report that a spot Bitcoin ETF had been approved. It describes a sharp spot-price move that later retraced, alongside elevated implied volatility and changes in options skew. The…
This weekly derivatives report summarizes bitcoin and ether futures yields and options volatility conditions. It describes bitcoin annualized yields as mostly flat with signs of a possible rise, while ether yields remained near zero after an earlier…
This weekly derivatives review connects headline-driven bitcoin and ether price moves with implied volatility, risk appetite, and options skew. It reports that bitcoin briefly rallied above $78,000 after an announcement about the Strait of Hormuz, then…
This desk commentary tracks bitcoin and ether prices, implied volatility, and options flow during a sharp late-January pullback and rebound. It describes front-end implied volatility falling before and during the drop, while bitcoin’s spot-to-volatility…
This market commentary describes an unusual bend in Ethereum options skew at the one-month tenor. It interprets skew through the SABR rho parameter: negative values indicate relative demand for out-of-the-money puts, while positive values indicate relative…
The analysis compares BTC and ETH option volatility skew ahead of Ethereum’s Shapella upgrade, scheduled for April 12, 2023. Both assets’ volatility smiles favored out-of-the-money puts, while ETH generally showed a stronger preference for downside…
This weekly commentary interprets BTC options activity across several March dates in 2021. It tracks positions rolled from the March expiry into April, including put protection, call spreads, outright calls, and put selling. The author connects these trades…
This weekly report compares Bitcoin and Ether derivatives after a brief spot recovery reversed amid hawkish Bank of Japan comments and declines in risk-on equities. It reads perpetual funding, futures implied yields, at-the-money volatility, and 25-delta…
This market commentary examines Bitcoin and Ether derivatives during a rally supported by halving expectations and ETF inflows. It discusses realized and implied volatility, volatility carry, term-structure inversion, call skew, futures positioning, and the…
This weekly market note interprets Bitcoin options activity around macro pressure and the October US CPI release. It tracks put buying, call selling, changes in implied volatility (IV) and skew, and compares implied volatility with realized volatility (RV).…
This weekly report surveys Bitcoin and Ether futures yields, perpetual funding, implied volatility, and option skew after a sharp risk-off move. It says front-end volatility declined and derivatives conditions appeared to stabilize, while funding improved…
This market commentary examines how the Federal Reserve’s policy statement and chair’s press conference affected expectations for rates, growth, and risk assets. It describes an expected rate increase followed by a data-dependent pause, with markets weighing…
This weekly market recap reviews Bitcoin and Ether futures, perpetual funding, options, and volatility surfaces. It reports that risk reversals recovered from a strong tilt toward downside protection while outright implied volatility continued to decline.…
This weekly Deribit commentary reads Bitcoin and Ether options activity against spot moves and the approaching Ethereum Merge. It describes continued demand for downside protection in Bitcoin, including puts across September to November, while noting that…
This market note interprets Bitcoin options activity after a sharp decline. It reports two-way trading in December options, portfolio hedging with risk reversals and puts, and continued institutional demand for dated upside calls. The described flow includes…