June 27 Crypto Options Market Research Report

The market is flat, what options strategy is suitable for ETH ETF expectations?

1. Core Views

1- Overall, BTC is unlikely to rise as fast as the previous ETF event. It needs to take a breather in the short term to recover. The real big trend is likely to wait until the expectation of interest rate cuts is clearer. BTC can continue to short forward vega, and there is still room for volatility reduction. Extreme long gamma is used for protection;

2- Under the expectation of ETH's ETF, the implied volatility premium on the Call side is quite a lot. The long exchange rate has not stopped profit. Currently, the ratio spread strategy for July is mainly deployed on the Call side;

3- For the copycat targets, it is still necessary to grasp the targets with good winning rate, odds and profit and loss points that I mentioned before to grind low-cost operations. It is expected that the ppt of ton's video can be made this week, and the YouTube video can be made next week. Ton's subjective judgment may be the biggest narrative in this round;

4- The implied volatility of several other targets still has a good premium relative to ETH, and continues to short vega. If you have any questions, just ask questions on the planet.

2. Options block trading

BTC block trading made some diagonal spreads (personally recommended)

buy BTC-26JUL24-68000-C + sell BTC-27SEP24-80000-C

buy BTC-26JUL24-66000-C + sell BTC-27SEP24-75000-C

ETH block trading has deployed short call spread strategy for ETF events

sell ETH-5JUL24-3800-C + buy ETH-5JUL24-4100-C

sell ETH-5JUL24-3400-C + buy ETH-5JUL24-3800-C

SOL mainly short call (within the planet)

III. Macro capital market

The US stock market continues to take off. Tesla, which has been doing well, has been performing well. If you don’t understand the option strategy, you can ask questions.

Although the 300 and 50 indexes of A-shares have been relatively stable in the past two weeks, we have to admit that when the policy news is too quiet, the weakness of the theme will also affect the trend of the blue-chip index.

If GJD had not appeared at the end of last week, this round of decline might have exceeded expectations. Yesterday, the themes rebounded collectively, which was due to the spontaneous factors of the market and perhaps also the factors supported by the news.