June 28 Crypto Options Market Research Report

Sol's trust application has stirred up market waves. How to use options to gain stable returns?

I. Core Views

1-Yesterday, the most important thing in the market was the news about VanEck's application for Sol's trust. I read the source file. Many media reported that it was an ETF, but there is actually a difference (it depends on the subscription and redemption rules. Most players don't understand the difference between the two). Although it is not an ETF, it marks that Wall Street institutions in the United States have begun to establish a channel for traditional funds to buy $SOL.

Then, the meme on Sol began to explode. Players who do Sol options with us don't have to worry. This round of Sol running out of alpha is a high probability event.

2- Sol is driven by events, and IV has raised 4-8 vols. We will still focus on the short vol strategy in the future and add the following long gamma positions. I will give you more practical point guidance later, but NFA.

3- Previously, I openly went long on the ETH/BTC exchange rate pair. The current effect is good. Let the bullet fly for a while.

4- ETH's IV is also in the wave, and the effect of collecting time value with some ratio spread strategies at the far end is not bad.

5- I personally reiterate the target of the copycat options: Sol, Ton, Ordi are the main ones (there will be spot positions); Kas, Doge (no spot positions)

Summary: Continue to + delta, in the long run, it is to make delta money. Those who make money by following the air force today and the long force tomorrow are not the people who attract the same frequency as me.

2. Options Block Trading

The bulk of BTC yesterday was the doomsday round of liquidation, which has no reference significance

ETH had a 15,000 position naked buy call yesterday, and a long diagonal spread strategy

buy ETH-26JUL24-4200-C

buy ETH-26JUL24-3600-C + sell ETH-27SEP24-4000-C

SOL had a large number of long gamma positions yesterday, mainly naked buy call doomsday options, making a lot of money (Xingxing will share)

3. Macro Market

US stocks:

The number of people applying for unemployment benefits has reached the highest level since November 21, and the market interprets it as a rekindled expectation of interest rate cuts. Yesterday, the small-cap Russell 2000 index was strong. Is there any small-cap stock market worth looking forward to in the future?

A-shares:

The recent trend is very weak. My personal account belongs to equity longs. Taking advantage of the low volatility of index options, a combination of index longs + index volatility longs is formed.

You can ask any questions on the planet and we will answer them.