Over the last two days we have been harping on the fact that crypto markets are currently trading very thin. We can sit for days at a time, and then see an explosive 10–15% move within minutes, and then sit some more. For almost 2 months now, we have said $3,600 is a key level that has been acting as a magnet for BTC. We have questioned whether this level would become SUPPORT or RESISTANCE. It seems to be flipping back and forth, unable to make up its mind.
Following up on our “Current Option Plays” morning report last week, we have attached the BTC 3 month at-the-money vol chart (https://www.sk3w.co/options), which is showing us we remain at depressed levels, ~57.5% this morning.
Late last night we had a smaller option fund looking into these options structures (all referencing $3600 BTC):
What you are seeing in these boxes above are the Theoretical Values in the upper left-hand corner, and the Greeks of these structures. If you do not know what some of these values show, please email us back and we can explain how these values can affect your portfolio.
As we talk to our savvy options trading clients, the feedback we are receive is they enjoy our trading ideas and appreciate our in-depth discussions of option theory with them. This is one of the major strengths of the BitOoda’s team, and we want to help those who may not understand options trading or are brand new to it. We want to be their Risk Management experts and their guide through this BEAR market, so they can emerge better positioned on the other side.
