In this episode of The Big Picture we host Kelly Greer from Galaxy Digital. We discuss the recent explosion in crypto options trading volume as bitcoin rallied past $34,000 and ETF probability increased.
Other topics include the ETF head fake rally, the term structure richness analysis, the Ethereum overwrite flow and new Deribit margin requirements, massive closeout activity, and Amber Data gamma indexes.
Overall, the video provides an in-depth examination of the crypto options market during this volatile period.
This one is packed with alpha! Watch till the end.
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00:00 - Introduction
01:10 - Kelly's Background
02:11 - Volume Explosion in Crypto Options
3:20 - ETF Head Fake Rally
4:43 - Term Structure Richness
5:54 - Ethereum Overwrite Flow
7:00 - New Deribit Margin Requirements
8:13 - Massive Closeout Activity
9:09 - Impact on Crypto Options Market
10:47 - Mainstreaming the Overwrite
12:11 - Amber Data Gamma Indexes
13:34 - Differences in BTC vs ETH Gamma
14:50 - Potential Gamma Convergence
15:27 - Rolling Out BTC Call Positions
16:22 - Reinitiating Upside Exposure
18:09 - Conclusion
