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This weekly market recap surveys BTC and ETH futures yields, perpetual swap funding, and options volatility and skew. It describes positive futures-implied yields and funding rates, which indicate that traders were paying to maintain long exposure. Implied…
The article reviews Bitcoin’s relative resilience during renewed Middle East tensions alongside caution in BTC and ETH options markets. It notes that BTC briefly fell and recovered, while short-dated puts became more sought after and implied volatility…
This weekly review links crypto price moves to shifting expectations for inflation, central-bank rate hikes, and geopolitical risk. It argues that investors had priced in severe outcomes early, potentially limiting further downside while also constraining…
This desk commentary describes sharp BTC and ETH price swings during the FTX crisis and tracks their effects on options markets. It reports weekly expiry implied volatility peaks of 175% for BTC and 250% for ETH, alongside a strong negative relationship…
The article proposes a June 2024 BTC bull call ladder for traders expecting further gains. The structure buys one out-of-the-money call at $80,000 and sells calls at $85,000 and $90,000. It describes a net debit of $382 per BTC and identifies the…
This short reference outline introduces core Bitcoin options topics: how puts differ from calls, profit and loss, maximum gain and loss, buying versus selling, and breakeven prices. Its key contextual point is that Bitcoin options may use the underlying…
This weekly report surveys Bitcoin and Ether spot ranges, perpetual funding, futures-implied yields, and options volatility. During the reported week, prices consolidated after an earlier rally. Bitcoin perpetual funding returned to positive territory, while…
This commentary compares Bitcoin and Ether option smile skew after news of a Bitcoin spot ETF application. Both markets continued to price out-of-the-money puts at higher implied volatility than similarly distant calls, but Bitcoin’s call-put volatility gap…
The commentary examines a steep, uneven Bitcoin and Ether options volatility term structure near year-end. It explains how comparing implied volatility across expiries and considering roll-down or forward volatility can change the appeal of holding vega: a…
The article presents a bear call spread for traders expecting Bitcoin to remain bearish or move sideways. The example sells a May 2024 call at a $65,000 strike for $340 and buys a call at a $66,000 strike for $200, receiving a net credit of $140 per BTC. The…
The article describes a crypto options market shaped by global risk aversion, with macroeconomic uncertainty and forced deleveraging weighing on prices. It reports elevated realized volatility after a sharp decline, while implied volatility has eased…
The article describes a short strangle for a trader expecting Bitcoin to remain within a range. The position sells one out-of-the-money call at a higher strike and one out-of-the-money put at a lower strike, with the same underlying and expiration. Its…
This weekly market recap reviews Bitcoin and Ether price action alongside derivatives indicators. It reports a strong Bitcoin rally during April, supported in the article’s account by ongoing spot ETF inflows and optimism about US legislation. Both assets’…
The article links Bitcoin’s potential breakout to monetary and fiscal pressures, including sovereign debt, central bank bond buying, and the possibility of renewed quantitative easing. It compares Bitcoin’s past performance with a long-duration Treasury ETF…
This weekly flow note reviews Bitcoin and Ether options as both assets pulled back from record highs in November 2021. It describes Bitcoin put-focused risk reversals funded by calls, alongside a buyer of near-dated call spreads, and reports opportunistic…
This options-flow report examines Bitcoin and Ether trading around approval of a spot Bitcoin ETF. It describes an underwhelming Bitcoin price response after approval, followed by a sharp decline in near-dated implied volatility as positions tied to the…
This weekly options-flow commentary describes positioning as Bitcoin’s late-year rally faded in 2021. It reports purchases of December 31 puts, alongside January call spreads and calls, including positions expiring in early and late January. The author…
This market commentary tracks Bitcoin options flow around the inauguration and the launch of the TRUMP coin. It reports continued outright buying of February and March 120,000 calls, along with February call spreads, and heavier near-dated call buying as…
This trade idea presents an Ethereum call ratio spread for traders expecting limited upside around anticipated spot ETF developments and resistance near the $4,000 level. The example buys one July 26, 2024 call at the $3,700 strike and sells two calls at the…
This article compares centralized finance and decentralized finance approaches to crypto margin trading. It describes centralized exchange systems in which spot, margin, and funding balances are separated, with exchanges intermediating between lenders and…
This desk commentary examines crypto options trading during a period of strong Bitcoin price action and an approaching Ethereum network upgrade. It tracks how implied volatility and demand for options changed as spot prices pulled back and then recovered.…
The announcement describes a hybrid custody arrangement intended to speed institutional access to Deribit. Under the model, a custodian or brokerage can offer the exchange as a trading venue without first completing a full technical integration. The document…
The document explains a bitcoin cash and carry trade, also called basis trading. A trader buys bitcoin in the spot market and shorts a dated futures contract priced above spot. Because the futures price converges toward the settlement price as expiry…
This guide explains how to interpret several crypto options analytics views. It defines volatility skew as implied volatility across strikes or deltas, and term structure as at-the-money implied volatility across expiries. Comparing these charts can help…