数字货币期权交割：从BTC和ETH的最大痛点看市场情绪波动
作者：Phyrex，币安广场创作者 来源：X@Phyrex_Ni
今天月度期权交割，数据上和昨天几乎没有区别，BTC的最大痛点仍然是33,000美元，空多比0.83，名义资金超过了40亿美元。最大痛点和现货价格的差距超过了10%，能够实现最大痛点的可能性太低了点，昨天也有很多小伙伴和我说这个数据偏低的可能性是很多投资者在做对冲，但是从下周的数据来看，似乎又回到了正常，下周的最大痛点是37,000美元，这个数据和现在的现货价格差距倒是不大了，而且空多比也从0.83下降到了0.5，名义资金将近10亿美元。其实周交割的数据一般都会和现货贴近很多，但是月度交割和季度交割的价格差距就会很大。
实际上确实在12月接下来的三周周交割期权的数据都差不多，但是到了月底的数据就又很奇怪了，12月的月底是季度交割，目前BTC的最大痛点是29,000美元，这个数据竟然还低于今天的33,000美元。空多比是0.47，虽然最大痛点并不友善，但是并没有像目前这么强烈的看空情绪了，而且名义资金已经上升到了55亿美元，这么来看的话确实对冲的可能性是很大的，大资金的投资者通过月或季度期权来锁定利润，而周期权的投资者更多的还是在博弈带来价格的涨跌。
BTC都是这样了， ETH 的数据也就很明显了，今天交割的最大痛点是仍然是1,700美元，空多比0.72，名义资金将近25亿美元。然后下周的周数据又和BTC一样恢复到了正常，最大痛点2,100美元，空多比0.43，名义资金4.2亿美元。然后到了12月底的季度交割，数据又变回到1,700美元的最大痛点，0.38的空多比，25亿美元的名义资金。这么看来不论是BTC还是ETH月度和季度的最大痛点很有可能是大资金投资者的成本附近，但有趣的是在今年上半年这种情况发生的并不多，很有可能是目前现货投资者并不认为会有稳定且长期的上涨空间，才通过对冲的形式来锁定利润。
The biggest pain point of the author's source of the creator of Bi 'an Square is that there is almost no difference between today's monthly option delivery data and yesterday's. The biggest pain point is that the nominal capital exceeds 100 million US dollars, and the gap between the spot price and the spot price exceeds the possibility of achieving the biggest pain point. Yesterday, many small partners also told me that the possibility of this low data is that many investors are hedging, but from next week's data, it seems that the biggest pain point next week is the dollar data and cash. The spot price gap is not big now, and the short-long ratio has also dropped from the nominal capital to nearly 100 million US dollars. In fact, the data of weekly delivery are generally much closer to the spot, but the price gap between monthly delivery and quarterly delivery will be very large. In fact, the data of weekly delivery options are almost the same in the next three weeks of the month, but the data at the end of the month is very strange. At present, the biggest pain point is the US dollar, which is even lower than today's US dollar short-long ratio. The biggest pain point is not friendly, but it is not as strong as the current bearish mood, and the nominal capital has risen to $100 million. In this case, the possibility of hedging is really great. Investors with large funds lock in profits through monthly or quarterly options, while investors with cyclical rights are more likely to bring price ups and downs in the game. The data is also obvious. The biggest pain point of today's delivery is that the dollar is empty and the nominal capital is nearly $100 million, and then next week's weekly data. As usual, it has returned to the normal maximum pain point, and the short-long ratio of the US dollar to the nominal capital is $ billion, and then the quarterly delivery data at the end of the month has changed back to the nominal capital of the US dollar. So it seems that the biggest pain point, whether monthly or quarterly, is probably near the cost of large capital investors, but interestingly, this situation did not happen much in the first half of this year. It is very likely that spot investors do not think there will be stable and long-term room for growth before locking in profits through hedging. 比特币今日价格行情网_okx交易所app_永续合约_比特币怎么买卖交易_虚拟币交易所平台
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