According to Odaily Planet Daily, data disclosed by GreeksLive macro researcher Adam on the A new low since last month. On the one hand, the stagnant market has caused the market's realized volatility RV to drop significantly, suppressing the implied volatility IV from the pricing side. On the other hand, there was a certain wait-and-see attitude towards the margin released by the quarterly large delivery before the halving. As the market gradually stabilized before and after the halving, the continued selling by large investors further reduced volatility expectations. Historically, the price of BTC has been weak since mid-April. Looking at the situation, selling call options in May is very cost-effective.