Deribit Options Market Podcast 0517 – Weak Market

The leading Ether rose weakly and fell 20% in a week, driving the whole market into weakness.

Podcast data provided by Greeks.live and Skew.com.

[Daily Briefing].

The leading Ether rally was sluggish, down 20% in a week, driving the entire market into weakness, and Bitcoin is already down 30% from its previous high. Bitcoin traded a large number of puts below $40,000, while Ether’s main traded strike range also dropped from $4,500 to $3,800.

[BTC Options].

Options volume was $873 million, and options positions were $8.3 billion.

[Historical Volatility].

10d 98%

30d 89%

90d 77%

1Y 69%

IV]

Implied volatility by normalized maturity.

Today: 1m 93%, 3m 89%, 6m 86%, DVol 105%

5/16: 1m 91%, 3m 89%, 6m 88%, DVol 102%

This morning’s dive caused an overall rise in full term IV, with DVOL now reaching its highest point since launch at 105%. Short-term shorting forces continue to strengthen, causing a positive Skew bias in the market across all maturities, with the March term having returned to near 0. Short-term vanilla puts are already more expensive than calls.

Deribit Options Market Podcast 0517 - Weak Market
Deribit Options Market Podcast 0517 - Weak Market
Deribit Options Market Podcast 0517 - Weak Market

[Option Flows & Block Trade].

From Option Flows data, the market is relatively balanced, but there are a large number of Put Blocks traded in the early hours of this morning not reflected in the data, and even traded a lot of puts below 40,000, while the term of these options are advancing further. For example, a few hundred of the end of the year 24000P, 95% traded IV is not expensive.

Deribit Options Market Podcast 0517 - Weak Market

[Options Position Distribution].

The current May term is about 47,900 coins and the June term is about 64,800 coins.

Deribit Options Market Podcast 0517 - Weak Market
Deribit Options Market Podcast 0517 - Weak Market

[ETH Options].

ETH options volume of $522 million and position of $5.8 billion.

[Historical Volatility

10d 132%

30d 118%

90d 99%

1Y 92%

[IV

Each standardized term IV.

Today: 1m 115%, 3m 113%, 6m 112%

5/16: 1m 115%, 3m 115%, 6m 116%

FOMO sentiment in Ether has weakened and DeFi has recently entered a pullback, directly causing prices to pull back sharply. IV by term has also started to decline, but is still above the recent average. skew has turned back as well, but the term in January is currently just back to the 0 level, and medium to long term skew is still negative 12%. vanilla put options are not considered expensive.

Deribit Options Market Podcast 0517 - Weak Market
Deribit Options Market Podcast 0517 - Weak Market
Deribit Options Market Podcast 0517 - Weak Market

Option Flows & Block Trade]

From Option Flows data, Ether transactions are also relatively average, with more call options traded during this morning’s rally, and the transactions are more concentrated, while on the contrary, put options traded are more scattered. The bulk transaction has picked up, dominated by call options around $4000, compared to yesterday’s $4500 transaction concentration price fell by more than 10%.

Deribit Options Market Podcast 0517 - Weak Market

[Options Position Distribution].

The current May term is about 319,000 coins and the June term is about 554,000 coins.

Deribit Options Market Podcast 0517 - Weak Market
Deribit Options Market Podcast 0517 - Weak Market

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/deribit-options-market-podcast-0517-weak-market/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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