Gate Research: Crypto options trading is bearish in bulk, crude oil volatility has fallen by about 38% from its high, and sell-side strategies have an advantage at a premium.
PANews reported on March 26th that, according to Gate Research, BTC's volatility index (IV) is around 51%, and ETH's is around 74%, both slightly lower but still above the 80% threshold. Gold and crude oil volatility indices are around 41.9% and 89.35% respectively, down approximately 14% and 38% from previous highs, but still relatively high historically. BTC skew recently dropped rapidly from -5 to below -10 before recovering to around -6, indicating that short-term panic selling has eased and the market is returning to a neutral-to-bullish structure. GEX formed a positive Gamma peak of approximately 5 million near its expiration date of March 27th, and short-term prices may be suppressed by a "magnetic effect." As expiration approaches or ends, subsequent volatility may amplify again. The largest transactions in the past 24 hours were a BTC Put Bear Spread of 65,000/70,000 (approximately 525 BTC) and an ETH Risk Reversal of 1,700P/3,200C (approximately 15,000 ETH).
Gate officially launched gold and crude oil options, ushering in a new era of multi-asset options trading. Building upon its existing 11 crypto asset options, it introduces traditional asset underlyings for the first time, providing users with more cross-market volatility trading opportunities. Gold options are denoted as XAUT, and crude oil options as XTI. Against the backdrop of escalating global macroeconomic volatility, gold and crude oil, as core commodities, have attracted significant attention, and their options provide traders with new tools for volatility trading and risk management.
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