📊Today’s #Matrixport Daily Chart - January 19, 2026 ⬇️ Crypto Traders Are Monetizing the Range, Not Chasing the Breakout #Matrixport #Bitcoin #Ethereum #Options #ImpliedVol #RangeTrading #CryptoDerivatives #BTC #ETH

Volatility is no longer just something you feel in your stomach during dumps Now you can trade it directly onchain. 👀📈 Introducing $BVIV & $EVIV — the first pure volatility perps on a decentralized perp DEX via gTrade (by @GainsNetwork_io). Let’s break it down Volatility perps are now live on gTrade: • $BVIV = Bitcoin Implied Volatility • $EVIV = Ethereum Implied Volatility Powered by @VolmexFinance Backed by a governance proposal And tradable with up to 100x leverage. 🔥 Try it: gains.trade/trading#BVIV-USD Wait — what are we even trading here? These indices track 30-day implied volatility, not actual price. It’s what the options market expects BTC & ETH to do — not what they’ve done. That means you’re trading market sentiment, not price charts. Why this is a game changer: 🔸 You can go long/short on fear & uncertainty 🔸 Hedge directional bets without touching options 🔸 Profit off volatility spikes (like VIX in TradFi) 🔸 All onchain — no CEX, no expiries, no BS DeFi meets TradFi’s $10T vol market. How it works under the hood: gTrade’s oracle-powered, AMM-style engine lets you trade these perps just like any other pair — but with price feeds from Volmex. No need to touch Deribit or understand Greeks. Just pure volatility trading, from your wallet. Initial trading specs: • 0.06% fee (open/close) • 1.1x to 100x leverage • $50k max OI per side (for now) • Pairs: BVIV-USD & EVIV-USD Low barriers, high upside, & growing interest. Why this matters: ➡️ Pro traders get new alpha surfaces ➡️ Volmex-connected funds get a permissionless venue ➡️ DeFi-native users finally get access to volatility trading ➡️ And gTrade becomes the place for trading narratives, not just tokens Volatility is the heartbeat of markets. TradFi made it tradable. DeFi now makes it accessible. With BVIV & EVIV, the volatility market comes onchain — open, decentralized, and composable. First-of-its-kind. But definitely not the last. This is just the beginning. More vol products. More institutional flows. More DeFi-native narratives. And a tighter gTrade ↔ Volmex collab going forward. The volatility revolution just started — and it’s only up from here. Ready to bet on fear itself? Trade the future of volatility: 🟦 BVIV on gTrade gains.trade/trading#BVIV-USD 🟪 EVIV on gTrade gains.trade/trading#EVIV-USD Volatility isn’t just a stat anymore. It’s a market. And it’s yours to trade. #Arbitrum #DeFi #gTrade #Volmex #Perps #Volatility #BVIV #EVIV #CryptoTrading #ImpliedVol #BTC #ETHCC

Snippet from this morning…. “quick read through of the recent signal flips plus discretionary read...lots of international FLAT from LONG and more to come as well as levels in domestic equities may flip to FLAT coming higher and closer....comes after financials weakness...energy strength...commodity early breakout potential... could be coming nearer and nearer to a risk off environment, for how long? don't know....but as i said the other day you can see the holding of tape by big players at moment...laying off liquidity...once they are done, i think we correct...signal should have us out...and the signal long areas should hopefully still work! defense discretionary short plays may soon be the name of the game...as always take it a day at a time, but thats what im seeing right now.... longer term with ImpliedVol (price of Vol in options) at a lower to last year or so of trading level...not a bad place to take some long term insurance...for those C-wave's down I posted last week....cheap right now at 6k SPX....”

NDX volatility skew steepens again — today's smile curve shows a sharp uptick in downside IV vs. upside, with puts pricing in 35% vol while calls stay suppressed. Traders are paying up for crash protection. 👀📉 #NDX #Volatility #OptionsFlow #ImpliedVol #Skew

If you open Twitter or even any large financial media outlet, it seems like all anyone can talk about is @TheRoaringKitty and $GME. I get it, the guy has a 9 figure trade on right now and it’s interesting. But how can you make money from this trend? If we take a look at the original frenzy in 2021, it might provide some clues. Here’s how $GME looks through the lens of a vol seller. In the last few weeks, I’ve seen a large influx of newer option traders start their journey due to RK’s $200M call lot. The google search term “options trading basics” is up 500%, while CBOE’s daily option volumes are anywhere from 5-10% higher with a clear outpace of calls to puts. With this new elevated interest comes cringe-level worthy advice saying to buy calls because the stock will go up. Any seasoned vol trader knows this is completely wrong, and right now the newer and more casual option traders are learning first hand how important derivative pricing can be. Right before RK’s livestream, the ImpliedVol on the 6/7/24 expiry calls were trading anywhere from 1,200%-1,500%. This was implying an astonishing 101% daily move! For those newer option traders who might not know what Implied volatility is, think of it as inherently supply and demand. As RK turned on the stream and folks had high expectations of him to say something new, when he didn’t, the stock fell lower as it was never going to realize 101% in a day. It was already priced in. As a side note, could you imagine going to work on Friday and your boss telling you that you must tune into the stream because whatever he says is going to move $millions in PnL of your desk. LOL! Back to 2021 when the original pump was going on, 1YR vol traded at 210 , implying 13% daily moves every day for the next year. This is quite nuts and shorting that vol was one fantastic trade. The problem was that participants shorted this vol too early at like 150 and thought it couldn’t go any higher while getting blown out in the process. The key point during that time was waiting for the vol to start to head lower before pouncing. Why? I’ll give you a simple example. Think of yourself standing at the Costco checkout line on Black Friday. There’s 10 cash registers in total but only 7 of them are currently being used. More employees clock in for the day and open those remaining 3 cash registers. What do you think the people in front of you will do? They will flock to those open cash registers as quickly as possible. This is “vol crush” at work. But until those employees open the new cash registers, the line behind you will get longer and longer. Hence, this is why you hammer the trade only when the vol actually starts coming down. Kitty’s 6/21/24 20c is trading at a 231% IV which implies roughly 14% daily moves until they expire. Sure the stock can see a few /- 14% days but the question to ask is if it’s sustainable? Given the constant media attention, I’d like to assume that vol will stay relatively constant until those calls expire. No matter what theos your model prices, I wouldn’t want to be short longer dated vol until after 6/21. There will likely be some price-insensitive buyers at that 200 vol. I believe the real longer dated vol trade comes after 6/21. 1YR vol currently trades at 130 while transactions costs/requirements are high. Lastly, I’ve seen some quite horrendous takes on the market making side of things. First of all, the dealers providing the liquidity to the $GME folks now have 3 years of experience dealing with a frenzy like this. MMs are prepared and far better equipped nowadays to handle this. They hired some of the most decorated math Olympiads to build out new models and "Jimmy from TikTok" on his first week of options trading is saying they are screwed. I just want to give some context here. Sure they could lose out on a portion of Kitty’s trade but at the end of the day, they will make money from intraday trades or other end of day models that they utilize. Take for example the initial May pump. Spreads were so wide, even up to $2, and you could get filled at .5-.20 with great liquidity on these arbs. Regardless, when MMs know a certain type of flow is coming (buys), that’s an edge and a large one in fact. I should state here that I don’t take any directional view on the stock. If it goes up or down then great, I’m looking to make money, just like you. Overall I’m not really sure how this saga will end, but I find it incredibly fascinating through the derivs landscape. It likely won’t settle down until those June 21st calls expire. Until then, there will always be opportunities until the history books call it. Cheers🍻

$VIX at 20 "demands" a certain velocity of price movement that we have yet to see. Implies move of abt 5.5% for the $SPY the next month. With such a gap between ImpliedVol and RealizedVol, if we dont start seeing big moves soon, all that panic bot protection will be puked up.

We need everyone to use it as much as possible, 100 TPS on devnet, much higher goals on mainnet 🔥 #perpetuals #futures #crypto #leverage #options #derivatives #impliedVol

Are #crypto vol markets hinting at a long-term trend? The liquidity taps are increasingly expected to flow in full force later this year. Putting the spotlight on owning the upside tail. Keep reading as I unravel this intriguing phenomenon... In this week's Crypto Roundup☟☟ ↓ ↓ ➠ #RealizedVol σ #BTC realised vol dropping back below 60 as 29k resistance held, and spot stayed within a range. #ETH realised has also fallen but is once again slightly above BTC on a 10d basis. ↓ ↓ ➠ #ImpliedVol σ Implied vols have converged with realised Taking carry to near zero in both BTC and ETH. We suspect realised vol will continue lower, and implieds will hold up. Allowing some positive carry to come back into the front end. ↓ ↓ σ Waiting to see if crypto markets can establish a range into month-end. Then possibly sell some optionality into Easter. If and when the 29k resistance breaks, we think this is likely to drive vol higher again. As the picture will look more bullish from a #technicalanalysis standpoint. σ σ σ ☞ More details in this week's Crypto Options Weekly note to subs ☜ ↓ ↓ ➠ #TermStructure σ BTC and ETH term structure both flattening back down from inverted states as gamma gets sold on lower realised. ETH/BTC vol spread shifting back up a few points. ETH realised takes back the baton but remains uninspiring. A break of 29k would trigger even more #Bitcoin outperformance. But as the level failed to break so far, vols are mean reverting. ↓ ↓ ➠ #Skew σ Skew recovered for puts as markets turned south and breakout hopes died down. Short-dated skew has repriced the most. Flipping back into put premium for weekly BTC options. But the bid for calls progresses as you move out the term structure. ↓ ↓ σ #Ethereum skew is almost entirely back to put premium except for the longest maturities, which still hold a slight call bid. Weekly ETH skew back to 3 vols for puts over as hedges get bought. ↓ ↓ ➠ #OptionsFlows σ A healthy week of volumes for BTC with $5Bn notional trading $3.5Bn expiring this week. A $2Bn notional week for ETH ahead of 3Bn expiring this Friday. σ σ σ ☞ Get full crypto options flows breakdown in this week's Crypto Options Weekly note to subs ☜ ↓ ↓ ➠ Crypto #Strategy σ Running a decent-sized hedge with BTC back up at 28k. ☞ Get more details on our positioning in this week's Crypto note to subs ☜ σ σ σ ...that's a wrap on this week's Crypto Roundup! Want more details on the current dynamics in crypto spot and vol mentioned above? Watch this week's Crypto Insight video on the Options Insight YouTube Channel dropping later today! 🦾Powered by @Amberdataio (link in follow-up tweet) 𝞂 𝞂 𝞂 ➠ If you enjoyed this Crypto Roundup, let me know your thoughts/questions in the replies! If you want even more detailed research & trade ideas on crypto & crypto vol... 𝞂 𝞂 𝞂 Follow the link in my Twitter Bio & use code RV2023 at checkout for a free month of our Crypto Options Weekly service. Cheers! 🫶

Can you feel the buzz around BTC? 🐝 We've seen record-breaking options volumes this week. Are you curious to discover how these massive trades are affecting crypto markets? Then come join us in dissecting the impact of these colossal moves in this week's... Crypto Roundup ☟ ↓ ↓ ➠ #RealizedVol σ #Bitcoin 10d realised up ~10pts, to 85 vol As spot continued to charge higher towards 28.5k and finished up 15% on the week. ETH 10d realised up 5 pts to 73 vol, materially lower than #BTC. ETH once again has failed to keep pace, with 1850 resistance proving too big an obstacle to pass. ↓ ↓ ➠ #ImpliedVol BTC short-dated implieds settled back down to only up 5p from 10p as spot drifted back below 28k. ETH implieds have been chopping around. Carry firmly in negative territory, especially in BTC, which is at -17.5 vol and in the 10th percentile. ETH carry also negative but less extreme. Interesting to see implied vols dropping before realised did ☞ More details in this week's Crypto Options Weekly note to subs ☜ ↓ ↓ ➠ #TermStructure σ BTC term structure shifting higher from 1m and out with weekly vol unchanged. ETH curve stable on the week. ETH/BTC vol spread collapsed. Even the back end feeling the crunch as BTC vol outperformance has persisted for a month. ↓ ↓ σ Statistically, we still like the long ETH side of this spread trade, however, don't want to fight the price action. We would likely cut the position if BTC breaks above 29k and ETH still can't participate in the upside. Positioning setup in ETH where dealers have been long upside has made it difficult for ETH to perform on the upside. Unlike BTC, where dealers are short. ↓ ↓ ➠ #Skew σ Skew flipped deeply into call premium across the whole curve from neutral last week. BTC skew now at 6 vols for calls over in the short dates and even slightly higher in the back end. ETH skew has also flipped and dropped by a similar amount. But as it was starting in more put premium last week, and spot failed to rally as hard. It makes sense that #ETH call skew is slightly less. ↓ ↓ ☞ For those patient enough to have waited for 28k, the hedging opportunity looks excellent up here... Want the details of our positioning? Find it in this week's Crypto Options Weekly report! ☜ ↓ ↓ ➠ #Options Flows σ Record volumes in BTC options this week. Notionals reached as high as the 2021 peaks. Unsurprisingly most focussed on calls... ETH flows only a third of BTC volume this week. Focus has remained on BTC as a safe haven out of the current #BankingCrisis. ↓ ↓ ☞ Get full crypto options flows breakdown in this week's Crypto Options Weekly note to subs ☜ ↓ ↓ ➠ #Gamma #Positioning σ BTC dealer gamma stays negative and helps drive the move higher. Dealers sit short local strikes from 26-28k. But what about beyond 30k? ⇣⇣⇣⇣⇣⇣⇣⇣⇣⇣⇣⇣⇣ 🪺EASTER EGG🪺 Reply to this tweet with "GAMMA 30K" & I'll spell it out for you. 🥚EASTER EGG🥚 ⇡⇡⇡⇡⇡⇡⇡⇡⇡⇡⇡⇡⇡ ↓ ↓ σ ETH positioning close to neutral as less call buying has been seen. Also, consistent overwriting continues. ↓ ↓ ➠ Crypto #Strategy σ Running a decent size hedge with BTC back up at 28k. For more crypto positions that we are currently running... ☞ Details are in this week's Crypto Options Weekly note to subs ☜ σ σ σ ...that's a wrap on this week's Crypto Roundup! Want more details on the current dynamics in crypto vol mentioned above? Go watch this week's Crypto Insight video on the Options Insight YouTube Channel! 🦾Powered by @Amberdataio! (link in follow-up tweet) 𝞂 𝞂 𝞂 ➠ If you enjoyed this Crypto Roundup, let me know your thoughts/questions in the replies! If you want even more detailed research & trade ideas on crypto & crypto vol... 𝞂 𝞂 𝞂 Follow the link in my Twitter Bio & use code RV2023 at checkout for a free month of our Crypto Options Weekly service. Cheers!

𝞂 The Ultimate Trading Mind Map 𝞂 ➠ 3-Part Series OI Macro Options Daily subs know that I manage to come up w/trade ideas several times per week. Week in, week out. But how do I never run out of ideas? By leveraging our Ultimate Trading Mind Map. This is the process ☟ ↓ ↓ ➠ Part 1 𝞂 The idea here is to walk you through the following: Analysis of opportunities → idea generation → risk management scenarios → trade execution ↓ ↓ ➠ ANALYSIS FOR IDEA GENERATION 1) FUNDAMENTAL ANALYSIS Time horizon = 1y up to 5-10y Trade ideas from this analysis tend to be long only, for asset allocation purposes, and/or as a vehicle to drive up pension fund value. Analysis can include: 𝞂 Valuation Model: This can be cashflows, EPS projections. 𝞂 Macro Data Trends: Trying to model the economies. 𝞂 Thematic: Longer-term structural themes (i.e., AI, Robotics, 3d Printing, etc) 𝞂 LT Growth/Innovation/Disruption: Companies and/or assets with long-term growth profile. ☞ Park your $$$ and come back in 10y ☜ ↓ ↓ 2) #TECHNICALANALYSIS Time horizon = Variable The trading style here can go from short-term, such as days to hours (not my preference)... ...up to medium-term, such as weeks to months. This sort of trend following or 'swing trading' is where I feel more comfortable. Analysis can include: 𝞂 Charts/Indicators: Bollinger, #RSI, Structure... 𝞂 Momentum: What's the realized order flow like? 𝞂 Mean Reversion: Rubber band-type effect, the more it stretches, the snappier the return to equilibrium. 𝞂 Statistical Arbitrage: Algo activity has eroded most of it ↓ ↓ 3) CATALYST/EVENT-DRIVEN ANALYSIS Time horizon = Timing Around Event Date My preferred strategy for trading event vol is through options pricing. 𝞂 Specific known event - #Inflation data. 𝞂 Earnings announcements - $AAPL #earnings. 𝞂 Elections/politics - US election, Brexit. 𝞂 Central Bank meetings - #FOMC, #ECB, #BOJ. Moving on... ↓ ↓ 𝞂 Once you know your target asset, time horizon, and what's driving your idea, then you need to incorporate... ↓ ↓ ➠ #VOLATILITY & SCENARIOS 𝞂 You need to be aware of where volatility is and has been recently. From here, you can try to think of realistic scenarios for the asset at hand. Of course, within the time horizon tied to the idea that we established earlier. The type of things you are going to be looking at include: ↓ ↓ 𝞂 ATR/#ImpliedVol - Is the market realizing on future vol expectations? 𝞂 #Bollinger: Where spot is vs. average vol of that asset 𝞂 #Fibonacci: Levels of confluence/importance to be aware of 𝞂 #TailRisk: Events that may derail your scenario in the horizon you are looking at 𝞂 #ElliotWave: Where are we in perceived pattern structure? 𝞂 Big Picture Trend: Zoom out to weekly/monthly and see where the asset has been and is potentially headed. These are just a few items I use most heavily. After I do all that, then I move onto... ↓ ↓ ☞ I'm afraid you will have to until tomorrow for the rest of the Ultimate Trading Mind Map goods! ☜ 𝞂 𝞂 𝞂 Have you seen enough and already know you need our trade ideas and Ultimate Trading Mind Map in your life? You're in luck. Use the link in my Twitter Bio and then enter code RV2023 at checkout for a free month of everything Options Insight has to offer! 𝞂 𝞂 𝞂 Have questions for me about the mind map? Let me know in the replies! Or better yet... ➠ Come ask me in person this Thursday from 11am ET - 12pm ET during our Options Insight Live on Twitter Spaces! You'll also be able to hear from our special guest... @RealVision's very own - @AshBennington! We are pumped to have Ash join the convo, so be sure not to miss what's bound to be an outstanding chat. (link in follow-up tweet) See you there! Cheers 🫶

TONS of noise & mixed signals in markets right now. But we think we've identified an opportunity in #preciousmetals. Setting up a relative value trade in $GLD / $SLV Curious about our trade thesis? You're in luck. It's time for our first ever... Trade Idea Tuesday | Part 1☟ ↓ ↓ ➠ CORRECTING SINCE START OF FEB 𝞂 Both #Gold and #Silver have been correcting since the start of February. And are now reaching what looks like interesting entry points. ↓ ↓ 𝞂 First, looking closer at Gold. 1800 looks like key support 🔑 If it holds, then a resumption of the impulsive uptrend that started in October could be in the cards. Leaving us feeling content to pick up some Gold upside ($GLD Calls) around the 1800 support zone. ↓ ↓ 𝞂 Now, onto Silver. Has underperformed Gold as it hasn't had the central bank buying (de-dollarisation) support. Plus, having industrial use links it more to global growth and renewables demand. So, if you happen to be underweight Silver, we think it makes sense to pick up some exposure if we get another ≈ 15% drawdown from here. ↓ ↓ ➠ IMPLIED VOLS 𝞂 #Impliedvol on Silver typically trades higher than Gold. Currently, almost double @ 26 vs. 13.5. So as mentioned, if you're comfortable taking ownership of some Silver down at lower levels, say 15% lower by 16Jun23... Then we think selling #Puts looks attractive with Silver Put #skew trading expensive relative to history. Also... ↓ ↓ 𝞂 Gold #Calls are not as expensive as they have historically been. Especially considering that Gold's implied vols have not increased despite selling off 7% from the January highs. The combination of these observations is the basis of our trade thesis for this GLD/SLV relative value opportunity. ↓ ↓ ➠ RELATIVE VALUE OPPORTUNITY 𝞂 To recap, we are suggesting an RV trade of selling SLV (10-delta) Puts and buying GLD (10-delta) Calls with the premium. This way, you take advantage of the volatility differential, allowing you to buy 2.5X the notional of $GLD Calls as the $SLV notional you are selling. We see this as a smart way to get leverage to a Gold rally... But only if you are comfortable owning Silver, down 15% from current levels! Since you may have to take ownership of the SLV puts you sold if the price is through your strike at expiry. 𝞂 𝞂 𝞂 ➠ Watch the attached clip from today's Macro Options Spotlight for more colour on this trade idea. ➠ Go to the Options Insight YouTube Channel right now to watch the full Spotlight and also see: • Recap of yesterday & overnight price action • Today's Cross Asset Vol Summary • And our read on the mixed signals throughout markets right now (link in follow-up tweet) 𝞂 𝞂 𝞂 ➠ Want this kind of analysis and trade idea sent directly to your inbox every morning? ➠ Use the link in my Twitter Bio right now and enter code RV2023 for a free month of everything Options Insight has to offer. 𝞂 𝞂 𝞂 Also, if you enjoyed this info, please drop a reply as it helps the Twitter algo push it to more people 🙏🫶 And keep an eye out for Trade Idea Tuesday | Part 2 coming later today. Cheers!

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Perplexing Tranquility? Bitcoin's Implied Volatility Hits Lowest Since October 2020 Last week we saw BTC IV hit lows since Oct 2020 around 38.64% Thanks to @coindesk & @godbole17 for the coverage🧠 #impliedvol #cryptovol #cryptoderivatives #derivatives coindesk.com/markets/2022/12…

thank you! so the idea is short the contract w highest ImpliedVol relative to our forecast, long the one w cheapest vol? what if OTM being pricier is actually not due to being dumb, is due to fair pricing of risks like gaps?

all I know is, benn told me before getting a clean calc of ImpliedVol, I gotta first figure out the implied borrow cost (in continuously compounded annual rate) based on synthetic forward prices, lol I dont know much on futures, but Hull textbook did say they were similar

🚨Quant funds support market rally with bets on stocks: Volatility-targeting and risk-parity funds were buying roughly $2bn to $4bn worth of equities a day. #stocks #bonds #riskassets #volatility #realizedvol #impliedvol #IV #options #futures #trading #investing

cool idea but too many assumptions baked in imo -- assumes that bond ImpliedVol and equity ImpliedVol should behave similarly -- assumes that the spread in bondIV vs equityIV has mean reverting characteristics

$NFLX If you MUST, and you're bullish, look for calls with lower IV, like May $400Cs with an ImpliedVol of 64, vs. front week of 150.

$UPST With an ImpliedVol taing of over 300 (no position) as he's getting squeezed after hours. All those call buyers $125Cs on up gonna get screwed. May be a good play for tomorrow after all the IV gets sucked out

Time: 03/12/2021 11:00 EST 🔈 Symbol: VXX ⏱️ Alert: Bullish Challenge 🟡 Level: 27.47 Message: Initiate long profit trailing. #VXX #VIX #vol #ImpliedVol $VIX $VXX #volatility #STEAMguidance #daytrading #trading #scalping