Despite a significant rebound in BTC over the past two days, the options market has shown a muted reaction, with short- and medium-term implied volatility generally hovering around 35% or lower. ETH's rebound has been even weaker, with implied volatility hovering around 65%. This rebound is primarily due to President Trump's public appearance, dispelling recent doubts about his health. The bulk market has seen relatively active trading in both call and put options, primarily focusing on quarterly options for the current month. The options market currently underprices future volatility. Despite the upcoming release of several important economic data, the options market suggests minimal market volatility, and September is likely to be a quiet month.