A.Y | Amber

[A.Y | Amber @AYAmber2]

@jesusmo38918891 nice

[Amber Group @ambergroup_io]

One way to trade the high skew in BTC options (1m 25 dlta BTC put +11% vol vs call) without selling naked option is to buy a put spread where you buy 50 dlta and sell a lower delta put at higher vol. You limit downside and do well if smile flattens (need to manage the theta)

[Amber Group @ambergroup_io]

Big drop in implied vol on BTC post halving (1 month from 100 to 80), interesting to note though that the risk reversal skew hasn't changed at a 12 vol premium for the 25 dlta BTC puts vs Calls. This indicates that market still more concerned of a sharp move lower.