In this week’s podcast, Imran Lakha and David Brickell speak to Conrad Carvalho, Head of Trading at Oaktree and Lion, a proprietary trading and research firm specializing in crypto options.
David gives his update on the latest macro developments over the last few weeks as we head into a week of key data from FOMC, Non-farm payrolls, and Mega-cap tech earnings. Imran and Conrad discuss the latest vol crush in crypto options and Conrad explains some of the approaches he uses to extract value from mis-pricings in the vol surface while running a market-neutral strategy. This is another great example of an equity derivatives professional with decades of experience finding the allure of crypto vol an opportunity too good to miss.
The following topics is covered:
0:00 – Introduction
0:37 – Special guest: Conrad Carvalho & Recap of the Recent Crypto Events
3:25 – Current Price Action on Bitcoin
4:29 – Background of Oaktree and Lion and Conrad’s Role
9:33 – How to Spot Changes in Spot/Vol Correlation?
13:26 – Positioning on Crypto Flows & Differences in TradFi vs Crypto
18:00 – Adoption in Crypto and Changes in Crypto Due to Maturity
21:42 – Trade Ideas on Vol Surface, 5 Strategies from Conrad
23:42 – Foreseeable Macro Risk Factors by David
25:23 – Thoughts on the FOMC Meeting & US Data
29:14 – Is the Macro Data Indicating New Highs for Crypto?
31:27 – Still Short Volatility? & Current Trade Ideas for this year
34:09 – ETH/BTC Ratio & Looking at ETH Relative Value
37:07 – Altseason incoming? David’s Meme Adventure & Key Takeaways
Listen via Apple Podcast or Spotify.
Don’t miss this podcast, stay tuned for more!
Disclaimer: The content presented on Crypto Options Unplugged is not intended as investment advice. Always conduct your own research.
AUTHOR(S)
We are the best resource for Crypto Derivatives trading. Deribit is not available in the United States or other restricted countries.