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1,232 dokumentov
This article explains why collecting the bid-ask spread does not guarantee that liquidity providers will profit. Takers can wait for favorable conditions, while makers continuously expose quotes; informed takers may therefore trade just before prices move…
This commentary interprets a sharp Bitcoin rebound through changes in listed options activity. Traders sold protective puts around $75,000–$78,000 and bought calls with strikes from $85,000 to $100,000 as spot rose from $75,000 to $85,000. The author also…
This article explains Ethereum Beacon Chain finality and describes two incidents in which blocks remained unfinalized for several epochs. Finality requires votes from a supermajority of validators, yet transaction submission and processing continued during…
This market commentary examines Bitcoin and Ethereum options amid low realized volatility and changing sentiment. It discusses the volatility term structure, the relative pricing of ETH and BTC volatility, option skew, trade flows, and dealer gamma. The…
This course section introduces cryptocurrency put options and compares them with traditional put options. Its listed topics include profit and loss calculations, breakeven points, buying versus selling puts, maximum profit and loss, and examples of live…
This analysis estimates how EIP-1559 could change miner revenue by separating block subsidies, transaction fees, and miner-extractable value. Under the described fee mechanism, base fees are burned, while miners continue to receive subsidies and MEV;…
This market commentary interprets a sequence of reported Bitcoin options trades around December expirations. It describes selling in several upside calls, followed by purchases of straddles, calls, and puts, and frames these flows as a change in positioning…
This guide describes several ways to interpret crypto options market data. The volatility smile compares implied volatility across strikes or deltas, while the term structure compares at-the-money implied volatility across expirations. Differences in these…
This overview compares two early decentralized options platforms, focusing on how contracts are created, collateralized, traded, and priced. Opyn issues transferable, fully collateralized American options in specified series. Its tokens can trade on…
This podcast overview frames a crypto market rebound against easing US–China trade tensions, changing fiscal expectations, and rising global bond yields. It highlights Bitcoin reaching record territory and Ethereum’s sharp rally alongside increased…
This market note interprets a period of subdued crypto options activity around the US jobs report and a Gemini–DCG deadline. The author describes a modest bias toward call buying after a rebound in altcoins, but says front-end implied volatility moved little…
This article examines how depositing assets into DeFi protocols can create receipt tokens that represent claims on underlying funds or pool positions. Its example traces stablecoins through lending markets, a Curve liquidity pool, and a yield vault, where…
The document describes Deribit’s planned expansion of USDC-settled perpetual futures across crypto tokens, listed equities and ETFs, commodities, the COIN50 index, and private-company valuation references. It presents the contracts as instruments for…
This tutorial explains how linked conditional orders can coordinate an entry with profit-taking and stop-loss exits. A one-triggers-other setup holds secondary orders until a primary entry fills. A one-cancels-other link cancels one exit when its counterpart…
This trade idea pairs a bullish technical view with a defined options structure. The author points to six consecutive days of net inflows into spot Bitcoin ETFs, including $64.8 million on Thursday, and an hourly chart described as an ascending triangle with…
This weekly review examines Bitcoin and Ether derivatives after a surge in realised volatility associated with SEC lawsuits against Coinbase and Binance. It compares futures-implied yields and perpetual swap funding with options measures, including…
This weekly market review interprets futures yields, perpetual swap funding, and options volatility and skew for Bitcoin and Ether. It links short-tenor futures yields and a sharp rise in BTC funding to increased demand for leveraged long exposure as BTC…
This market commentary contrasts two kinds of Bitcoin options activity in July 2021. It interprets purchases of distant, deeply out-of-the-money puts as possible medium-term crash protection, while noting alternative explanations such as structured-product…
This weekly market commentary interprets Bitcoin options activity during sharp spot swings in early 2021. It follows large January call positions, later short covering, put purchases, and longer-dated call trades, relating those flows to implied volatility,…
The document defines implied volatility rank (IVR) and implied volatility percentile (IVP) as measures of current implied volatility relative to an asset’s history, commonly a one-year window. IVR locates current IV within the historical high-to-low range;…
The document explains basic call and put payoffs, then applies them to two strategies for TRX holders. Buying puts alongside spot can set a lower effective floor while retaining gains if TRX rises. Selling calls against spot collects premium and lowers the…
The document examines how the March 2023 USDC depeg affected the relative pricing of Bitcoin options settled in different currencies. Although options on the compared exchanges referenced the same underlying, strike, and tenor, one settled in BTC and the…
This weekly commentary interprets Bitcoin options positioning during a sharp price decline in June 2021. It describes short-covering and profit-taking around a major expiry, alongside fund demand for calls at strikes above spot across July, August, and…
The document describes planned changes to portfolio margin treatment and collateral haircuts. In cross portfolio margin accounts, stETH is placed in ETH’s risk bucket and may offset ETH derivative exposure, with a reduced haircut to account for possible…