Happy weekend, island friends! We're one day closer to 5.19, and the weekend market remains stable, seemingly not much panic, haha.

Looking at the ETH data to boost some confidence:

From the gamma perspective, the current price is in an absolute positive gamma zone, and the negative gamma zone is severely diminishing, with volatility energy weakening. These positive gammas will persist strongly until the end of May.

The IV curve shows an upward movement on the put side, with bearish sentiment rising.

A short-term pullback may be the main theme of the weekend. However, as a believer, this level of bearish sentiment is not enough to influence our judgment.

The bull spread strategy continues, and as long as the unrealized loss does not exceed 50, we can still wait patiently. Being a buyer has its downsides; the long wait often results in the joy of victory lasting only a few hours or even minutes.

If you're worried about theta decay, you can sell some out-of-the-money call options for SOL in the near month to subsidize, treating it as a hedge.