shhh heaviest premium ever spent on a single crypto option trade nearly $50m the dec call spread not the teeny weeny puts guess mkt quiet because ct dont own zee bitcoin gg

1) Tale of two flows. BTC OG 80k overhang a catalyst to ~110k Put hedging. On Glxy execution some fever as 115k breached. But another entity doubled-up with an extra $25m Dec 140-200k Call spread. On ETH the large Sep Call fly was TPd for 50% profit. Aug+Sep Call spreads added.

THE comprehensive crypto options forensics synopsis rare to receive this quality from even best sell sides blessed and free gg

1) Treasury plays are the game. BTC may have stalled as an OG wallet supply soaks demand, but $23.7m spent on an EoY Dec 140-200k Call spread x3500 signals continuation. ETH active with ETF+treasury inflows, pushing recent Sep Fly and Call spreads ITM, Fast money Calls in play.

Tsundoku - (Japanese) word for the act of buying books and letting them pile up without reading them. Is there a word that fits for the same principle for X bookmarks? Two weeks into an extended 10week family summer break, I am finding periods of time to read bookmarks that I felt important at the time. Occasionally this is a masochistic exercise, finding well written research pieces on underpriced protocols. So if you see me ‘like’ 4month old posts of yours, I thankyou for your contributions that I wish I read at the time and/or are still relevant. Enjoy the summer and ATHs for those that celebrate.

GC eli12+ Strong Option protection added ahead of US strikes. Not a lot unwound as of yet. 90min open countdown.

1) A continuation derisking/downside play of near-dated Put structure buying and Call selling ahead of the weekend and US bombing of nuclear facilities in Iran. Put Skew, as a consequence, has remained firm from flows, elevated at the front end. Dvol unchanged dismissing events.

We must find and focus group every buyer of CRCL and figure out how to convince them to buy our bags instead.

1) Israel launch on Iran briefly shocked risk markets. Most clambered back; only Oil resisting based on Iran's real disruption potential. BTC hedges from Funds and downside plays from Fast money dominated, targetting 100k strikes. The former funded via Call selling, latter naked.

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