Entering the quarterly delivery week, the main transactions in the market revolve around the closing and moving of quarterly options.

Currently, the quarterly holdings of BTC and ETH both account for more than 40%, and most of the transactions are concentrated in the quarterly contracts expiring this Friday, with the average daily trading volume accounting for nearly 40%.

This Friday may be the first quarterly delivery in history where the full-term implied volatility IV is lower than 50%. Against the background of the long-term decline of IV, it seems that this will not be the last time. It is obvious that the dominant position of option sellers will become more and more important in the future. The weaker. #BTC #option