From deribit insights by Tony Stewart

In this week’s edition of Option Flows, Tony Stewart is commenting on the recent market movements.

Strong continued buying of Feb+Mar 120k Call Strikes outright & via Feb120-140k Call spreads on the CME.

Additional FOMO squeeze Jan20-24 106-112k Calls as the Friday Spot buyer pushes BTC to 106k ahead of the inauguration.

Trump coin creates a blackhole of liquidity+division.

2) Chart illustrates the 120k focal point in Feb+Mar, some funded by selling 140+145k Strikes above.

Heavy buying of Jan24 105k+108k and Jan24+Jan31 110k Calls into next week’s inauguration.

3) Jan24th expiry manifests a bump on the term-structure as expected (or awareness of) volatility from Trump headlines creates demand – mostly so far on the upside.

The push to 106k firmed IVs a few points, and that firmness has continued into the weekend with TRUMP coin release.

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