Weekly BTC and ETH Options: Put Skew, Volatility, Flows, and Dealer Gamma

Summary

This weekly market review surveys Bitcoin and Ether options through realized and implied volatility, term structure, skew, relative value, option flows, and dealer gamma positioning. It describes falling front-end implied volatility, a pronounced shift toward put premium at short expiries, and differing positioning across the two assets. It also discusses ETH/BTC volatility and spot spreads, alongside reported call and put activity across selected strikes and expiries.

The commentary links dealer gamma estimates to possible support or faster price movement around specified strike areas, and notes macro events as potential near-term drivers. These observations are a snapshot of market conditions and positioning for the week described, not a tested trading system. The document reports market figures and flow interpretations but supplies no methodology for deriving its positioning estimates or evidence that the suggested price behavior followed. Its conclusions may become stale as prices, flows, and expiries change.

Key ideas

• The review tracks volatility, term structure, skew, relative value, option flows, and dealer gamma in BTC and ETH.
• Short-dated options shifted toward put premium in both assets during the reported period.
• The article interprets dealer gamma and strike concentrations as possible influences on price support or movement.
• The observations are a time-sensitive market snapshot without a stated validation method or strategy backtest.

Tags

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