June 7, 2023
Weekly Mid-week Crypto Derivatives Market Recap where Imran Lakha of Options Insight gives brief yet concise breakdowns of BTC's & ETH's Volatility, Term-structure, Skew, Crypto Option Flows, and Gamma positioning.
This week Imran walks us through some key points.
1. Realized Vols remained in the mid 30s last week as NFP provided more action in stocks.
2. BTC & ETH Term Structure saw more of a parallel shift lower on the week.
3. BTC Skew is currently in put premium out to 3 months and only goes to call premium in 6m and longer maturities.
4. BTC Option flows were lower this week as lower vol brought less activity / ETH Option flows are still dominated by call sellers keeping pressure on implied vol.
5. BTC dealer gamma moved slightly more positive as spot sold off to lower end of the range again near dealer long strike below $27k / ETH gamma positioning has been very stable all week and remain slightly positive
