Take a look at ETH data and reflect. In the past half month, the VRP for various option expirations has been mostly negative. This means that buyers are actually favored over sellers.

However, looking at the trend, the VRP seems to be trending upwards, could it be that the seller's market for ETH is returning?

Sellers have always had a high win rate. The key is how to sell. From the recent trend, if the VRP fluctuates near the zero line, whether it's naked selling or vertical spread selling, it poses high risk with significant price volatility. Perhaps only calendar selling is a relatively stable method.

If you are optimistic about ETH's future sideways consolidation for a period of time, and the VRP is positive, it is recommended to try buying out-of-the-money put calendar spreads (sell near expiry, buy far expiry out-of-the-money puts) and buying out-of-the-money call calendar spreads (sell near expiry, buy far expiry out-of-the-money calls).

This combination is both aggressive and defensive; once the VRP turns negative, you can close the near leg and switch to going long on the distant leg. Even if the price breaks the strike price, the losses are limited.

There are significant disagreements about ETH; whether it can continue to reach new highs like Bitcoin is uncertain for everyone. Using this strategy to ride the donkey while looking for a horse might be a good choice.

Operational advice: After the US stock market opens next week, observe the trend and select a price range. Wait quietly over the weekend and do not rush to act.