June 3 Crypto Market Volatility Research Report

Ambush will eventually pay off, continue to wait and lay out new options strategies

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I. Core Views

1- TON and Kas, which have been ambushing and laying out long positions, finally ushered in a good increase today; subjectively judged that Kas still has great opportunities in June, and I did not do anything with my own ITM position;#TonI placed an order in advance and made a covered call near the previous high

2- Market hot spots are limited, and the existing funds are mainly copied from Binance new coins such as#Not\ BB;

3- Yesterday's new layout continued to lay out the ratio spread strategy on the ETH Call side at the end of June, short vega (note: sufficient spot positions)

4- BTC subjectively judged that the downward exploration is limited, but the sell put vol is too low and it is not cost-effective; just wait.

5- Sol needs to wait, the hotspot is on ETH's ETF, and the blood-sucking effect is obvious

2. Large options positions

BTC only has some short positions of vol at the end of June (not much, more than 100 positions)

sell BTC-28JUN24-80000-C

sell BTC-28JUN24-60000-P

ETH naked buy call positions are worth noting (mid-term layout in June and July)

buy ETH-28JUN24-5000-C

buy ETH-26JUL24-5000-C

Sol does have a lot of abnormal large positions on the weekend, and the planet reminds

3. Macro market

External macro US bonds have a tendency to turn from hawkish to dovish. Under the unsustainable high interest rate, foreign capital inflows are unlikely to reverse, except (ZHANzheng).

Domestic macro PMI is willing to pull up at the weekend and returned to below 50, which is lower than expected. Last Friday's market has fully priced in the small decline in the internal PMI data.

The July meeting will be the most important meeting in the past 10 years, which will set the tone for the medium- and long-term wealth distribution pattern. Especially combined with the capital market setting of the nine articles of the State Council, which will push the market from the speculative market/financing market to the investment market, domestic and foreign funds will attach great importance to the overall convenient G reform tone.