May 11 Crypto Options Market Volatility Analysis

Short-term bearish sentiment is relatively large, and yesterday was a slight loss

CC options competition and trading mining must be participated in, the airdrop call is very sufficient

I. Core Views

1-BTC spot continues to fall, and the chips are densely supported in the area of ​​59,000. You can make Put-end strategies around this point (for example: bear market spread, proportional spread)

2-From the perspective of derivatives implied volatility, short-term panic sentiment is not serious, and ETH continues to be weaker than BTC

3-Yesterday there was a message that the Dex transaction volume on Sol has exceeded the ETH chain. Combined with the continuous decline in the overall ETH gas, we must continue to pay attention to whether a paradigm shift occurs

4-Sol continues to reduce volatility, Ton implied volatility rises, and the dosage of short-selling volatility + long gamma strategy is increased; Doge implied volatility decreases, and Kas implied volatility goes sideways

II. Option block transactions

BTC has 2 blocks worth paying attention to yesterday, namely short-term long gamma and medium-term long delta

buy BTC-17MAY24-70000-C

buy BTC-26JUL24-67000-C

ETH has a super large amount of 15,300 pieces

buy ETH-31MAY24-3000-P

(Be sure to pay attention to short-term negative risks)

Sol has a large short position (prompt in the planet)

3. Macro market information

U.S. stocks generally fell yesterday, and several major indexes closed flat. In the short term, U.S. stocks are still at a relatively high level. There is no huge liquidity support in the macro (if the interest rate cut is expected, the subsequent upward momentum will be weak)

Yesterday, the A-share market, the gossip before May Day was gradually fulfilled. Xi'an has no purchase restrictions, and Zhejiang has issued guidelines for the autonomous renewal of old communities (fiscal concessions activate private shantytown renovation needs).

There are also small essays such as interest rate cuts and reserve requirement ratio cuts that will be fulfilled in the near future to cope with fiscal bond issuance needs, and the cancellation of Hong Kong Stock Connect dividend tax.

Although domestic capital is not confident yet, it is all good news that can be seen with the naked eye. It depends on when the accumulation will be fulfilled and exploded.

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