In this week’s edition of Option Flows, Tony Stewart is commenting on the recent market movements.
Despite Bitcoin being chosen as the (Digital) Golden one, and Alts being dismissed to the stockpile, the Option flow on BTC remained bearish, with clear selling of Calls in 90-105k Strikes, and continued Put buying in the 80-85k Strikes and then Mar 75k Puts rolled out to Jun.
2) Chunks of (Red) Call selling in Mar 14-28th 90-110k Strikes, with opposing, but aligned negative delta, (Blue) signifying buying of Mar14-28th 80-85k Puts.
This continued during the normally quiet weekend, and ahead of the US risk markets opening for the week ahead.
3) Those thinking the crypto summit end would provide a line in the sand and peace after a tumultuous week, sold their Gamma on Friday as per normal, only to see 1m Dvol almost 8% higher, and 2dte IV squeezed 25% higher, on surging realized with BTC touching 80k as US risk opens.
View X thread.
AUTHOR(S)
ex-MS Head of Trading desk /BTC Vol. Prop trading /Option Market forensics/ Alter Ego account Digital Asset arena. Tweets are my opinion, not financial advice.