Volatility has increased significantly overall, and the skew has tested new lows again, leading large players in the options market to worry that the downward trend in BTC may not be contained. Put options also saw consistently high trading volume, with the top five traded options all being puts, primarily with a strike price of $70,000, indicating strong bearish sentiment. Even the fourth-ranked option was a March put option at $55,000!

📢 Weekly Trading Update 📈 From January 27th to February 1st, the notional trading volume through block trades reached $253,633,354 ($254 million), of which Deribit accounted for $237 million and OKX for $16 million. | Top 5 block trades completed last week. Thank you for your support.

【The Cook Capital Market View】 RV: 1d/1w/1m/2m/3m/6m are 58.25%/56.35%/42.31%/41.03%/44.64%/41% respectively. RV has risen significantly in the past day and week, with all RVs now exceeding 40%. IV: 1w/1m/2m/3m/6m are 47.64%/43%/42.81%/43%/45% respectively. Currently, based on the IV/RV difference, there are still not many trading opportunities.

Murad's meme portfolio collapsed instantly 😱📉 Once worth $67 million, it has now plummeted to around $9 million—an 86% drop in just 6 months. 📊 Data as follows: • Peak (July 2025): Approximately $67 million • Current value: Approximately $9.1 million • Losses: Approximately $58 million From meme king to the harsh reality, it all happened so fast. Is the era of meme coins really cooling down? Or is this just another instance of speculators cheating? 👀 What does this tell us? 👉$PEPE #PEPE #CryptoMarket #MEME #ALPHA #Write2Earn {spot}(PEPEUSDT)

[January 30 Options Settlement Data] 91,000 BTC options expired, with a put-call ratio of 0.48, a maximum support level of $90,000, and a notional value of $7.6 billion. 435,000 ETH options expired, with a put-call ratio of 0.68, a maximum support level of $3,000, and a notional value of $1.19 billion. Today is the first monthly settlement day after the annual settlement, with 25% of total open interest in options expiring, totaling nearly $9 billion. Call options dominate. Bitcoin and Ethereum prices entered a sharp downward trend yesterday. The panic that had recently eased has once again gripped the crypto market, and we are still experiencing the aftershocks of the sharp decline in the fourth quarter of last year. Currently, the $80,000 level for BTC and the $2,500 level for ETH both provide strong support. Looking at the main options data, the implied volatility of BTC and ETH has increased significantly. The implied volatility of BTC's main term options is around 45%, and that of ETH's main term options is around 60%, both at their highest levels this year. This week, the volume and proportion of large-volume options transactions remained high, mainly due to the demand for position rollover. Currently, market makers and active traders have a lot of cash on hand and a strong willingness to trade, with the greatest demand for put-back defensive strategies.

GreeksLive Smart Trading now offers order placement intervals of 1 minute, 5 minutes, and 10 minutes for different order groups. For example, if I have a 1 BTC combined order, split into 10 groups. Without this new feature, the next order would be placed immediately after each group is completed. If market conditions are unfavorable for this combination, it could lead to continuous execution without a buffer. By extending the order placement interval to 5 minutes, some of these impulse surges can be mitigated, resulting in more robust trading performance.

Tomorrow is the first monthly settlement date of 2026, with over 25% of options positions set to settle. As expected, the Federal Reserve did not cut interest rates, and there have been no major events recently, resulting in a relatively stable market. Implied volatility (IV) is continuing to decline. In the second half of the month, Bitcoin fell back into its trading range. Currently, the resistance at $90,000 and the support at $86,000 are both strong. Market expectations for volatility are also continuing to decrease, and there are no immediate factors indicating a breakout. Recently, a large influx of institutional holdings into exchanges has put significant liquidity pressure on the crypto market. Crypto-related US stocks have also been relatively weak, and market sentiment is gradually becoming pessimistic. Various conflicts and the rise of FUD (Fud) are also gaining momentum.

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The most common pitfall of dynamic hedging: the convexity of OTMs that you intended to preserve is inadvertently negated by DDHs 😅 Traditional dynamic hedging defaults to including the entire position in Delta calculations, negating the "lottery position" of options as well. Therefore, dynamic hedging (DDH) needs to add a specified position hedging function, so that you can flexibly "preserve convexity" when arbitrage. Now, @GreeksLive's DDH tool has been updated: specified position hedging It achieves one-click switching between full position hedging and custom mode You can also manually select the positions to be hedged, making it more convenient to manage your "option lottery" It also allows you to better seize tail opportunities when dealing with subsequent extreme market conditions.

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