TechFlow reported on March 31 that Greeks.live analyst Adam released a daily report on cryptocurrency options block trades, stating that the largest block trades over the past weekend were 250 April 1 expiry puts at a strike price of $78,000 and 250 April 1 expiry puts at a strike price of $80,000. The nature of the trade was naked short puts, with no protective positions established.
After the March expiry, institutional investors tend to believe that market weakness will persist. Other major trades have primarily focused on post-monthly-expiry position adjustments. Calendar spreads and vertical spreads have become favored strategies among traders. The overall market exhibits negative Delta and positive Theta characteristics, with Ethereum showing a more pronounced bearish bias compared to Bitcoin.
