BTC/GRIN Options, Difficulty Swap, Tagomi

Happy Hump Day! The Crypto Markets haven’t been all that exciting over the last 10 days. We have been stuck around $3,800 BTC, trading within a ~$150 range, which at this point is all just noise. We will use this report to provide you with some updates on markets and products we have been working on this end.

Yesterday we were asked for some BTC Call options

All prices are Referencing Spot BTC $3,840:

BTC M (6/28/19) 4,250 Call 305/375 500x up 43 delta

BTC Z (12/27/19) 5,000 Call 420/520 2000x up 41 delta
BTC Z (12/27/19) 7,000 Call 150/200 2000x up 19 delta
BTC Z (12/27/19) 9,000 Call 75/125 2000x up 10 delta

We are of the opinion, if you are BULLISH, or have a BEARISH position you are looking to HEDGE, options are relatively cheap. As you can see from the chart below (, the ATM Vol has settled into the 55–60% range over the last month. In our opinion of this illiquid market, massive moves can occur in a matter of minutes, therefore vol should not get sold down much further from these levels.

On Monday, we worked some GRIN options markets as well:

GRIN Spot referencing $3.30

GRIN H (3.29.19) 4.00 call .15/.30
GRIN J (4.26.19) 4.00 call .20/.50

We have made some progress on our “Bitcoin Difficulty Swap”. The contract Specs are close to being finalized. We have many miners coming to us that love the concept and want to transact. BitOoda is looking for natural sellers, or even speculators who would have interest in getting paid to take the difficulty curve risk off of these miners’ books.

Finally, the Tagomi Investment news from the last two days has been very well received. We have been asked by 8 firms for demos of Tagomi’s Trading platform already, and the requests keep on rolling in. I certainly wouldn’t want to be a firm that doesn’t equip their traders with the best tools in the marketplace when all my competitors do…..

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