Deribit Options Market Report: 0218—Bull Market
【Daily Review】
【Daily Review】
BTC historical volatility
【BTC Options】
BTC historical volatility
10d 125%
30d 107%
90d 91%
1Y 87%
【Option Trading Volume】
Options volume was $1.6 billion, with current open interest at $8.8 billion. Bitcoin price, options open interest, and options trading volume all hit record highs today.
【IV】
Implied volatility for each normalized term:
Implied volatility for each normalized term:
2/17：1m 110%, 3m 97%, 6m 106%
During the Spring Festival, Bitcoin IV was relatively stable, with a slight decline in the medium and long term. There was a peak in the wave of IV before the festival. If there is no big market, there will be no obvious IV growth in a short time.
【Option Flows&Bulk Transaction】
Judging from the Option Flows data, the power of bullishness is obviously stronger, and the bulk transactions are concentrated on out-of-the-money call options. The largest order is a 200-piece Mar5-56000C, and the total number of deeply out-of-the-money calls is more.
【Option position distribution】
【ETH Options】
【ETH Options】
ETH Historical Volatility
10d 67%
30d 132%
90d 120%
1Y 113%
The trading volume of Ethereum options today is 175 million US dollars, and the open interest is 2.6 billion US dollars.
【IV】
Each standardized period IV:
Each standardized period IV:
2/17：1m 127%，3m 118%，6m 113%
Ethereum IV has not changed much. Ethereum’s rise this month is obvious, but it is not as good as Bitcoin during the Spring Festival. Although it also hit a record high, IV has not risen.
【Option Flows&Bulk Transaction】
According to the Option Flows data, the volume of buying call options on Ethereum accounted for half of the total volume today, and selling put options accounted for a quarter, which was significantly larger than the other two directions. There are many large transactions of about 2,500 and close to 20,000, which are concentrated at 3 o'clock in the morning.
【Option position distribution】
【Option position distribution】
