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  1. OUTLOOK 16NOV25: Inside the Box; A New Regime

    A packed week of downside pressure, capped volatility, and exploding box-spread activity signals a new regime in Bitcoin options—defined by arbitrage, discipline, and deep liquidity.

  2. OUTLOOK 09NOV25: Dealers' Positive Gamma Profile

    Bitcoin’s correction below its all-time high has pushed volatility near 50% and brought balance to the put/call ratio. Traders are increasingly selling options, creating a positive gamma environment and tighter price ranges around the $100K level. This Outlook examines that shift toward a more mature, strategically driven Bitcoin options market.

  3. OUTLOOK 27JUL25: Eying Upside with Caution

    Bitcoin’s $12.3B July expiry pinned near max pain, rewarding sellers. Post-expiry flows show cautious bullish positioning with defined downside hedges. Diagonal spreads and risk reversals highlight traders’ strategic alignment with the 110k–120k zone.

  4. OUTLOOK 13JUL25: The Rally That Didn’t Roar

    Bitcoin broke above $118K as nearly all puts expired worthless. This week’s Outlook explores mixed positioning ahead of 18 July — from aggressive short puts to neutral butterflies and bearish spreads — revealing a market walking a fine line between confidence and caution.

  5. OUTLOOK 08JUN25: Shifting Sentiment Under Calm Volatility

    Despite record-low implied volatility, Bitcoin options positioning is shifting: from a failed risk reversal to growing downside hedges and strategic long calls. In this Outlook, we explore the market’s evolving sentiment, from the near-term 13 June expiry to long-dated bets — and spotlight two large block trades revealing diverging outlooks.

  6. OUTLOOK 31MAY25: Composure at the Top

    Despite five consecutive bullish expiries and a fresh ATH, the Bitcoin options market remains calm. In this Outlook, we explore what declining volatility, balanced positioning, and two distinct block trades reveal about trader sentiment heading into June.

  7. OUTLOOK 24MAY25: A Rally with One Foot on the Brake

    Bitcoin’s fourth straight expiry above max pain signals bullish resilience—but options traders aren’t fully convinced. With muted implied volatility, cautious hedging, and tactical structures like the $115K butterfly, this Outlook decodes a market walking the line between conviction and caution.

  8. OUTLOOK 17MAY25: Between Confidence and Concern

    As Bitcoin hovers above $100K, the options market tells a deeper story — fading volatility, cautious put buying, and tactical plays like bear spreads hint at growing short-term unease beneath a calm surface.

  9. OUTLOOK 11MAY25: Calm Markets, Bold Bets

    As Bitcoin breaks above $100,000, the options market tells a deeper story—one of restrained volatility, strategic positioning, and cautious optimism. This Outlook unpacks expiry outcomes, evolving open interest trends, subtle shifts in call-put skew, and how traders are quietly preparing for the weeks ahead. From near-term hedging to a bold Bull Call Ladder targeting $135K, discover what’s shaping sentiment beneath the surface.

  10. OUTLOOK 04MAY25: Waiting for Breakout

    Bitcoin hovers below $100K as options traders quietly reload. From gamma tension to bullish skew, the market is poised—just waiting for a breakout.