Deribit Options Market Report: 1209—The decline continues
The price of Bitcoin fell below the $19,000 sideways area in the short term, and the settlement price today was $17,900; Ethereum fell to around $535, which is close to the bottom of last month at $520. The decline is still going on, and at the same time, the trading volume has declined, and the sellers have little pressure on this kind of market.
【Option Trading Volume】
【BTC Options】 BTC historical volatility 10d 73% 30d 65% 90d 52% 1Y 79% 【Option Trading Volume】 Implied volatility for each normalized term: 【IV】 Implied volatility for each normalized term: Today: 1m 68.1%, 3m 71.2%, 6m 75.5% 12/8 ：1m 67.8%, 3m 72.5%, 6m 79.4% The ultra-short-term IV rises slightly, which is caused by the price movement and has little reference significance. The mid-to-long-term IV has dropped slightly, and the IV deviation caused by price movement has been adjusted. This shows to a certain extent that the liquidity of mid-to-long-term options is obviously not as good as that of short-to-medium term options. 【Option Flows】 【Option position distribution】 【Option position distribution】 ETH Historical Volatility 【ETH Options】 ETH Historical Volatility 10d 91% 30d 90% 90d 74% 1Y 103% Each standardized period IV: 【IV】 Each standardized period IV: Today: 1m 75%, 3m 84%, 6m 86% 12/ 8 ：1m 73%，3m 83%，6m 90% The short-term IV of Ethereum is significantly lower than that of the medium and long-term. Now the price difference is about 10% of the IV, returning to the level of Ethereum a few months ago. 【Option Flows】 【Option position distribution】 【Option position distribution】 At the end of the year, Ethereum held a position of 594,000 ETH, and the maturity in March was about 226,000 ETH. The positions held in each cycle basically did not change today, only the ultra-short term increased.
