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 links a sharp spot correction to the unwinding of leveraged long positions in BTC and ETH derivatives. It tracks futures-implied yields moving toward zero as futures prices converge toward spot, and perpetual funding rates moderating…
The note interprets BTC and ETH options activity during a turbulent week, distinguishing short-dated trading and exposure management from trades that may express longer-term views. BTC volume was concentrated around the April 30 expiry, while other activity…
This market commentary links the post-election crypto rally to expectations of friendlier US policy and institutional participation. It describes higher front-end volatility, inverted volatility curves, and different skew patterns for Bitcoin and Ethereum.…
This weekly market note interprets Bitcoin and Ethereum options activity amid lingering concern about downside risk. It highlights a seller of a June 25 Bitcoin put at 36,000 and buyers of June 25 calls at 50,000 and 52,000. The author also describes…
This trade note discusses a bullish setup in Solana after price broke above a cited supply zone and retraced toward a demand area. It proposes a call ratio spread: buy one out-of-the-money call and sell two calls at a higher strike with the same expiry. The…
This article estimates how traders were pricing the timing of a possible US Bitcoin ETF decision and outlines options structures for that event. It uses the narrowing discount of the Grayscale Bitcoin Trust as a rough confidence proxy, then reads jumps in…
This weekly report surveys BTC and ETH derivatives after a post-election rally. It interprets futures yields, perpetual funding, option skew, and at-the-money implied volatility as indicators of stronger bullish sentiment. According to the report, yields and…
This market note reviews Bitcoin option activity during a volatile trading day. It describes calls bought during an initial rally, later put-skew buying through a risk reversal, and a subsequent wave of fund selling and liquidations. The author contrasts the…
The article analyzes a large purchase of ETH June 400 puts and argues that an option’s value before expiry depends on more than whether ETH finishes below the strike. The reported trade involved about 50,000 puts bought through a resting order for roughly…
This podcast episode description outlines a discussion of tariff announcements and their relationship to crypto market sentiment. One speaker observes that Bitcoin appears less reactive to tariff threats than it had been a week earlier, while falling bond…
The article analyzes Bitcoin’s rally amid expectations of spot ETF approval, using spot and futures activity, exchange balances, realized volatility, options prices, trade flows, and dealer gamma positioning. It describes a move to new yearly highs with…
This weekly report tracks crypto derivatives indicators around a rising-volatility period and a higher-than-expected US inflation reading. It describes how option volatility smiles shifted toward out-of-the-money calls, futures-implied yields rose to levels…
This commentary compares changes in BTC and ETH futures-implied yields with the shape of options volatility smiles during a period of market stress and recovery. Futures-implied yields had moved closer to zero and the term structures flattened, which the…
This market commentary examines how BTC and ETH options pricing changed as spot prices stayed within ranges. It reports lower realized and implied volatility, a wider volatility risk premium, and a BTC term structure returning to contango. The analysis also…
This market commentary tracks a possible rotation from Bitcoin into Ether alongside changing prices and options positioning. It describes Bitcoin stalling, put and put-spread buying, Ether initially strengthening, and later Bitcoin rebounding as call buying…
The note interprets a large purchase of Bitcoin calls expiring January 27 amid quiet options activity. The author connects the trade to low realized volatility and a steeply contangoed term structure, where time decay can weigh on long option positions when…
This market commentary examines crypto derivatives flows amid changing Bitcoin and Ether prices, ETF activity, and expectations around the Bitcoin halving and Ethereum catalysts. It describes declining short-dated implied volatility, term structures…
This weekly market recap reviews Bitcoin and Ether options conditions using Block Scholes indicators and volatility data. It reports that implied volatility remained elevated, while the sharp inversion in volatility structures had eased compared with the…
This weekly review connects the 2022 crypto selloff to inflation, expected Federal Reserve tightening and withdrawals of market liquidity. It describes how the May CPI release and concerns about further rate increases coincided with broad risk asset selling.…
The article explains how weak crypto trading activity, macro uncertainty and capital shifting toward other markets contributed to a liquidity shortage in June 2023. It links subdued spot activity to low realized volatility and argues that reduced…
This weekly report summarizes crypto derivatives conditions for Bitcoin and Ether through futures yields, perpetual swap funding, at-the-money implied volatility, and options risk reversals. It describes a pullback and recovery in spot prices alongside…
The document explains option delta as sensitivity to changes in the underlying price and as a model-based estimate related to the chance of expiring in the money. It emphasizes that delta depends on the pricing model and the quality of its inputs. In crypto…
This podcast episode discusses the crypto market response to a Federal Reserve rate cut and new Chinese stimulus measures. The guest, Truflation’s founder, explains the project’s aim to provide real-time macroeconomic data using blockchain, and contrasts…
This commentary reviews a sharp crypto selloff amid a wider cross-asset risk unwind, linking the turbulence to factors including a yen carry trade reversal, market volatility, and concerns about potential token sales. It reports that realized volatility rose…