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The document introduces USDC-settled options on AVAX and TRX and explains call and put payoffs at expiration. Buyers pay a premium for the right, but not the obligation, to trade at a strike price; their maximum loss is that premium, while gains can be…
This podcast summary reviews a volatile crypto market week through macro events and options positioning. The speakers discuss central bank signals, a Swiss rate cut, expectations for broader monetary easing, slowing exchange traded fund inflows, and selling…
The article presents a macro view linking Federal Reserve policy phases to Bitcoin and Ether prices. It argues that the 2019 pause in rate increases coincided with a substantial crypto rally, while subsequent rate cuts accompanied a correction, and suggests…
This market commentary describes crypto options positioning after a period of uncertainty and declining realized volatility. The author observes implied volatility trading at a premium to realized volatility, while call buying in Bitcoin and Ether remains…
The document explains Deribit’s planned automated fee discount tiers, including how accounts qualify, how options and futures volume are counted, and when fee levels change. The initial assignment uses October activity, after which upgrades are evaluated…
This article explains how on-chain governance formalizes protocol proposals, token-weighted voting, and upgrades, then contrasts that model with rough consensus among maintainers. It uses contentious hard forks in Bitcoin and Ethereum, as well as recurring…
This podcast overview connects a possible crypto market advance with monetary policy expectations, equity strength, liquidity, and subdued volatility. The hosts and a derivatives-market guest discuss the prospect of a Federal Reserve cut, Bitcoin…
This market commentary reconstructs a rapid rise in Bitcoin and Ether through option trades, implied and realized volatility, and market-maker behavior. It describes call buying and short covering as prices advanced, alongside profit-taking and some…
This episode preview considers how the final Federal Open Market Committee meeting of 2025 might affect crypto markets. The speakers distinguish the widely expected rate decision from forward guidance, especially signals about future cuts and short-term…
This market review examines Bitcoin derivatives after Terra’s UST depeg and LUNA’s collapse. It describes a sharp rise in implied volatility alongside an even larger jump in put skew, suggesting that downside protection became expensive relative to calls.…
The article proposes a short-dated Bitcoin call butterfly for a bullish market outlook where a nearby resistance zone may limit gains. The structure buys one call at a lower strike, sells two calls at the middle strike, and buys one call at a higher strike.…
This article explains why options markets may expand as crypto derivatives become more liquid. It begins with portfolio insurance: investors buy puts to protect long holdings, while some may use calls to hedge the risk of investing cash later. It describes…
The article reviews how a political shock and crypto-specific developments affected Bitcoin and Ether prices and options markets. It reports that realized volatility had eased while implied volatility rose, putting both assets into positive carry. The author…
The document outlines a defined-risk Bitcoin put butterfly for a bearish market view after Bitcoin fell below cited support. The July 12, 2024 example buys a $54,000 put, sells two $53,000 puts, and buys a $52,000 put. Its payoff peaks if Bitcoin settles at…
The commentary proposes a cross-asset options position during a period when Bitcoin and Ethereum implied volatilities were near historical lows. It suggests buying a June Ethereum $2,200 call and financing the purchase by selling a June Bitcoin $25,000 put.…
This market commentary examines positioning around expected U.S. decisions on spot Bitcoin ETFs. It discusses elevated funding, the possibility of a sell-the-news reaction, and the distinction between approval headlines and later product launches. Its…
The document presents a defined-risk call butterfly on Bitcoin, motivated by a bullish view ahead of U.S. employment and inflation releases. The example buys the $74,000 and $78,000 calls and sells two $76,000 calls, all expiring June 14, 2024. Its payoff is…
This weekly report summarizes Bitcoin and Ether derivatives conditions using futures-implied yields, at-the-money implied volatility, volatility smiles, and option skew. For Bitcoin, it describes yields near zero across most tenors as spot returned to…
The note follows a large position in Bitcoin calls across April, June, September, and December expiries, initially interpreted as a halving-related trade. After spot rallied about 35%, the existing calls gained potency as traders who had been underexposed…
The commentary tracks how options positioning and volatility changed as Bitcoin and Ether traded near notable strike levels. In Ether, attention centered on the February 10 expiry at the 1,700 strike: open interest rose, quotes widened as spot approached the…
The note interprets a burst of Bitcoin call buying as evidence of upside momentum positioning. It reports purchases across January and February expiries, including outright calls and call spreads, with roughly $15 million in premium paid while spot was near…
This weekly report describes deteriorating risk appetite across BTC and ETH after a broad risk-off move. It compares three derivatives signals: perpetual funding, futures-implied yields, and options volatility skew. ETH perpetual funding reached its most…
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…