After Wednesdays CPI data that exceeded expectations disappointed the market and led to an overall jump in U.S. bond yields, yesterday (14 FEB) Chicago Fed President Goolsby made dovish remarks, saying that the market should not be overly motivated by one months CPI data. , while reaffirming that the Fed uses PCE as its inflation target rather than CPI, and believes that it is still on the right path to return to the 2% target. The mood of the fixed income market has been soothed as a result, and the U.S. bond yields have slowly declined. The current two-year/ten-year rates are 4.57%/4.227% respectively. The stock market has also been boosted by this and has recovered most of its losses. The Dow/SP/Nasdaq Increased 0.4%/0.96%/1.3% respectively.

Source: SignalPlus, Economic Calendar

Source: Binance & TradingView

In terms of digital currency, BTC continued its upward momentum, rising 4.1% during the day, and successfully gained a foothold at the $52,000 mark; ETH closed up 4.6% during the day, approaching $2,800; in terms of options, Vol Skew is still at a historical high, and ATM Vol is still at a historical high. Maintaining the upward trend of shock, the overall level has reached above 50% Vol, and ETH is 2 to 3% Vol higher than BTC.

In terms of trading, ETH’s calls this week and at the end of the month were heavily sold, including a large number of take-profit orders between 2300-2400. At the end of March, bullish strategies represented by Buy 2700 vs 3200 Call Spread were concentrated, except In addition, there are triangular spreads such as buying near and selling far, such as Buy 29 MAR 3200-C vs Sell 26 APR 4000-C. We can also observe similar transactions on BTC, such as Buy 29 MAR 60000-C vs Sell 75000- C (350 BTC per leg)

Source: Deribit (as of 15 FEB 16:00 UTC+8)

Source: SignalPlus

Data Source: Deribit, ETH front-end Call was sold heavily

Data Source: Deribit

Source: Deribit Block Trade

Source: Deribit Block Trade

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