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Reading BTC and ETH Volatility, Term Structure, Skew, and Option Flows

Article Amberdata research
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Summary

This brief market recap describes conditions in Bitcoin and Ether derivatives as of February 8, 2023. It tracks realized volatility, futures or options term structure, skew, and observed option flows. The reported picture is declining realized volatility, a return to slight contango, skew shifting toward puts as momentum softens, and call-heavy Bitcoin flows alongside more balanced Ether activity with some downside interest.

The note offers a snapshot of market positioning and volatility rather than a repeatable trading system. It gives no underlying data, measurement windows, trade levels, or performance evidence, so its observations should be treated as a dated commentary rather than a forecast or general rule. The brief format also leaves the causes and implications of each signal unexplored.

Key ideas

  • The recap reports that realized crypto volatility declined during the week.
  • Term structures moved back into slight contango.
  • Options skew favored puts as market momentum weakened.
  • Bitcoin option flows were call-dominated, while Ether flows were more mixed with some downside interest.

Tags

CryptoOptionsVolatilityDerivatives pricing

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.