Mixed Action in BTC/ETH Options
Action has been evenly split between BTC calls and puts, while ETH traders are leaning into puts.
Flows through Paradigm are again centered evenly around the BTC $40k strike, while 30 Sep '22 BTC $70k calls are popular. Interestingly, so are the ITM BTC 22 Apr '22 puts. Structure-wise, Diagonals and Complex Multi-legged strategies are the most popular.
Looking at ETH, most of the flows have been OTM. 2800 & 3000 puts and 3400 calls have seen the most contracts traded. Looking at structures, outright calls and puts are outpacing strategy plays.