QCP Capital: A large number of put option selling behaviors occurred after the release of non-agricultural data
On September 7, QCP Capital posted on its official channel that the initial market reaction after the release of non-agricultural data yesterday was positive, driving risk assets up. But as the market began to digest the expectation of a 50 basis point rate cut in September, the bullish sentiment took a sharp turn. After the release of non-agricultural employment data, the market expected a 50 basis point rate cut with a probability of 55%. But as of this morning, the market expected a 25 basis point rate cut probability to rise to 70%, and the probability of a 50 basis point rate cut fell back to 30%.
Even if cryptocurrencies are moving lower, the options market is relatively calm. Even a large number of put option selling was seen throughout the trading session. We observe that the front-end volatility is declining as the spot consolidates over the weekend.
