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.
10,263 documents
This weekly market commentary reviews Bitcoin and Ether options positioning before a US inflation release in February 2023. It connects macro uncertainty and recent spot declines to implied volatility, realized volatility, term structure, and risk reversals.…
This recap reviews Bitcoin and Ether options and volatility conditions in early April 2023. It tracks realized volatility, term structure, put and call skew, options flow, and dealer gamma positioning as a compact framework for reading the derivatives…
This market recap reviews BTC and ETH options conditions during a sharp spot-market selloff and rebound. It discusses realized and implied volatility, term structures, volatility carry, skew, relative value between ETH and BTC, options trading flows, and…
This podcast overview introduces Panoptic, a decentralized protocol for minting, trading, and making markets in perpetual put and call options. The conversation is described as covering co-founder Guillaume Lambert’s path from physics into decentralized…
The article explains a box spread formed from four options at two strike prices: a lower-strike call is bought, a higher-strike call is bought, and puts at the two strikes are sold and bought in the corresponding legs. It presents the position as the…
This document explains how to connect to BitMEX through Lumibot’s CCXT broker interface using an explicit exchange configuration and API credentials. It notes that BitMEX is not among the globally auto-detected credential paths, and identifies the exchange…
The document defines a generic perpetual contract instrument for perpetual swaps that are not represented by a crypto-specific contract type. It describes the metadata needed to model one consistently across venues: instrument identity, underlying and asset…
This weekly market commentary reviews Bitcoin and Ethereum options ahead of US inflation releases and other macro events. It compares realized and implied volatility with historical ranges, examines the relative volatility of ETH and BTC, and discusses…
This platform guide describes how to select and trade cryptocurrency options through a common trading interface. It outlines contract selection, market-data retrieval, order placement and cancellation, and position queries for Deribit and OKX. It also lists…
This beginner guide explains convertible bonds as debt with interest and a right to convert into shares at a specified conversion price. It distinguishes the bond’s market price, the underlying share price, and the conversion price, then illustrates how…
The note links uncertainty after a US government shutdown to crypto risk and options pricing. It argues that missing October inflation and employment releases complicate the Federal Reserve’s December decision, while the FOMC minutes and other scheduled…
The document explains gold contracts for difference as cash-settled derivatives that provide exposure to gold price changes without holding bullion or futures. It outlines features such as leverage, smaller contract sizes, the ability to take long or short…
The document introduces derivatives data views for examining options on IBIT and MSTR. It describes using long-dated at-the-money implied volatility and term structures with forward volatility to inspect how option pricing changes across maturities. It also…
The post outlines a screen for Chinese convertible bonds associated with the metaverse sector. A candidate must show three bullish crossovers at the same time: MACD over its signal line, the 5-period moving average over the 10-period average, and the…
This weekly market note reviews Bitcoin and Ether options conditions in early December 2022 alongside macroeconomic context. It describes falling realized volatility and implied volatility, a soft volatility backdrop, changing risk reversals, and steep Ether…
This convertible-bond research note describes a relative-value approach based on the embedded option. It first compares implied volatility with the underlying stock’s historical volatility: relatively low implied volatility is treated as evidence that the…
An interview with an experienced derivatives trader traces his move from equity derivatives into crypto and explains how exotic option books can behave under stress. Autocallables combine contingent coupons with short exotic downside exposure, while their…
This market commentary examines crypto options and spot-market conditions during the November 2022 FTX collapse. It argues that contagion concerns, thin liquidity, and possible abrupt news-driven moves made short-volatility positions especially exposed, even…
This market commentary links changing US inflation, employment, and rate expectations to crypto risk sentiment, then reviews Bitcoin and Ethereum options positioning ahead of an FOMC decision. It describes bullish Bitcoin flows, including call buying and put…
This weekly crypto market note reviews Bitcoin’s rally, liquidation-driven price swings, upcoming US macro events, and the implications for options volatility. It connects a sharp move through prior price levels with short liquidations, a subsequent rapid…
This overview surveys models used to relate asset values or expected returns to risk and other inputs. It describes CAPM as linking expected return to the risk-free rate and market exposure, then introduces multifactor models such as Fama–French, which add…
This market recap reviews Bitcoin and Ethereum options after approval of an Ethereum exchange-traded fund. It discusses realized and implied volatility, term structure, relative volatility, and option skew. The account says implied volatility fell as event…
The article explains why implied volatility is an option price input solved from a pricing model, rather than a direct forecast of future realized volatility. It recommends assessing current IV against its own history and reading it alongside the shape of…
This weekly market note connects Federal Reserve expectations and US economic releases with crypto and equity volatility. It argues that rates and inflation data could influence risk assets, then compares Bitcoin and gold implied volatility as a way to frame…