QCP Capital Market Update – 1 Apr 24
– A dovish Powell last Friday kept markets supported over the long weekend.
– In the last 24 hours, we’ve seen significant interest to sell calls and buy puts in both BTC and ETH.
– This has put some downward pressure on spot price and has also kept implied vols high, particularly in ETH where demand for puts have been much higher than for calls in the front-end (downside risk reversal skew -5% in April)
Trade Idea:
– Accumulators have been outstanding in this range-y market, allowing investors to buy BTC close to 50k level even with BTC spot trading around 70k.
– A 12-week Accumulator (spot ref 68.5k) allows you to buy BTC weekly below 57k (17% discount to market!)
*upper barrier at 75k
– Clients may check with the desk for more details
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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