ChainCatcher message, Greeks.live analyst Adam posted on social media that after several days of adjustments, the market has once again reached a position of strong divergence. Currently, BTC is fluctuating below $100,000, ETH is fluctuating around $3,700, and most altcoins have seen a decline of over 20%.
Currently, BTC options account for 80% of the holdings and trading volume in the options market, making them the most indicative. Today, the proportion of large call options traded is nearly 30%, mainly focusing on buying short-term strike prices of $100,000 and above, while proactive purchases of year-end protective puts also account for 10% of the trading volume.
Currently, the short-term IV exceeds 60%, which is considered relatively high. Institutions have strong expectations for volatility before Christmas, making it relatively cost-effective to buy some year-end options.
