Jan. 5 Options Data, dramatic volatility may not happen again
22,000 BTC options are about to expire with a Put Call Ratio of 0.62, a Maxpain point of $43,500 and a notional value of $960 million.
255,000 ETH options are about to expire with a Put Call Ratio of 0.54, a Maxpain point of $2,300 and a notional value of $580 million.
The market suffered a massive sell-off this week when the spot ETF failed to pass as expected, and a large amount of high leverage accumulated in the prior period was liquidated, causing sharp volatility in the market.
Short term IV has risen sharply, and the market is now gaming the ETF very aggressively, with IV's reaching 80% or more over. Next week will be the deadline for the approval of ETFs and things will always come to a head whether they are passed or not.
We observe that the crypto derivatives market is focused on ETF gaming, and with the current funding rates and leverage levels in the market, dramatic volatility like this week's may not happen again anytime soon.
255,000 ETH options are about to expire with a Put Call Ratio of 0.54, a Maxpain point of $2,300 and a notional value of $580 million.
The market suffered a massive sell-off this week when the spot ETF failed to pass as expected, and a large amount of high leverage accumulated in the prior period was liquidated, causing sharp volatility in the market.
Short term IV has risen sharply, and the market is now gaming the ETF very aggressively, with IV's reaching 80% or more over. Next week will be the deadline for the approval of ETFs and things will always come to a head whether they are passed or not.
We observe that the crypto derivatives market is focused on ETF gaming, and with the current funding rates and leverage levels in the market, dramatic volatility like this week's may not happen again anytime soon.