June 28, 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. Big shift higher in realized vol as BTC retested YTD highs in matter of days after positive news around BlackRock and EDX markets.
2. BTC & ETH Term Structure briefly inverted with the explosion in weekly vol on the sharp rally
3. Skew - BTC has been in deep call premium all week understandably because of the market moves
4. BTC Option flows exploded last week doubling around $7.5B / ETH Option flows much less of an increase in volume as spot lagged behind BTC
5. BTC dealer gamma spiked even more negatively into Friday / ETH gamma positioning on long 1800 & 1900 strikes has been a strong force of gravity for ETH
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