May 23 Crypto Option Volatility Research Report

Layout ETH long-term bullish strategy in July and August, continue Gamma scalping in the short term

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I. Core Views

1- ETH short-term implied volatility is more than 90 Vol, I personally will not go long on volatility, and some positions are short on short-term Vol

2- Enlarge the pattern and layout ETH July and August 0 cost bullish strategy, think about the most unfavorable situation, mid-term strategy, buy and leave, no micro-operation in the middle

3- Use the understanding of the fundamentals and technical aspects of cottage options to use options to gain short-term profits, such as the buy call operation of Kas in the figure below, which has been mentioned in previous research reports. The profit in one day is as follows

4- The fundamentals of the two key trading cottage options continue to improve, and we continue to deepen Ton and Sol

II. Option block trading

Yesterday, BTC had 2 large buy and short call positions, and the strike price selection is more valuable for reference (both more than 200 pieces)

buy BTC-25MAY24-73000-C

sell BTC-27SEP24-90000-C

Yesterday's ETH block positions continued to bet on bearish (large trading volume, 17,000 pieces)

buy ETH-31MAY24-3400-P

Sol block trading bought a large number of put option doomsday positions (see Planet for details)

III. Macro market

There is nothing much to say about US stocks. Our targets are in the set range, and trading according to the established mid-line option strategy is very comfortable

Big A All that needs to be said about the market has been said. Yesterday, there was a fear of highs, and domestic capital was not motivated to actively push up the market. In the first round of the bear-bull transition, most domestic capital was a follower.

Foreign capital is still the stabilizer of the short-term market, and the direction determines the power. Yesterday, the inflow of 4 billion+ northbound funds stabilized the main index.

For +delta players, don’t worry if there is a middle Yin later. Under the premise that the logic has not changed, there will be missed orders if the market does not fall much.

Instead, we should pay attention to whether our short-term and medium-term trading positions are closed when the middle Yang continues to attack.