SignalPlus Volatility Column (20231208): ETH takes advantage of the trend to challenge 2,400, BTC holds on to 43,000
Yesterday (7 Dec), the number of initial jobless claims in the United States for the week of December 2nd was 220K, slightly lower than the expected 222K. The U.S. bond yield first fell and then rose, with the two-year/ten-year yields reporting at 4.622% and 4.622% respectively. 4.175%. The three major U.S. stock indexes collectively closed up, with the Dow/SP/Nasdaq closing up 0.18%/0.8%/1.37% respectively. Tonight the market will usher in this weeks heavyweight data, the non-farm payrolls index, so please pay attention to the related risks.
Source: SignalPlus, Economic Calendar
Source: SignalPlus & TradingView
In terms of digital currencies, BTC is still holding on above the 43,000 support level, while ETH continues to ride the momentum upward to touch the $2,400 mark. The completely different price trends of the two have also been reflected in the changes in the options market. Specifically, BTC IV was once again dragged down by RV, and the trading volume also fell sharply. On 29 Dec, a group of Short 44000 Straddle sold with a single leg of up to 1,000 BTC. The strong volume expressed a bearish view on year-end volatility, and there were also a large number of protective put spread transactions of 43000 vs 40000 on this expiration date; on the other hand, boosted by the price, ETH showed a completely different performance, with 2400 on 29 Dec The trading volume of Long Straddle reached 18,000 groups. At the same time, a large number of call options with strike prices of 2400 to 2800 on the two expiration dates of 15 Dec and 29 Dec were purchased on both the bulk and Deribit retail platforms, which not only raised the price of this period The level of implied volatility also caused the Vol Skew in the front end of ETH to rebound back to highs.
Source: Deribit (as of 8 DEC 16:00 UTC+8)
Source: SignalPlus
Source: SignalPlus
Source: Deribit Block Trade
Source: Deribit Block Trade
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