【BMNR Stock Price Soars, IV Plummets, How to Use Options to Seize Opportunities?】

At the end of July, $BitMine Immersion (BMNR)$ disclosed S-3 resale documents, triggering a sharp drop, but soon the buyback plan and huge ETH treasury executed a 'roundhouse kick', with the stock price rebounding from $30 to $38 in just one week. Last night, it surged over 15%, with trading volume exceeding 46 million shares, reigniting interest.

From on-chain data, BMNR currently holds 833,000 ETH, approximately $3 billion, surpassing both the Ethereum Foundation and SharpLink Gaming (SBET), making it the largest treasury on-chain. In the past 30 days, its holdings have increased by 410%, becoming the leader in the 'ETH Treasury Concept' favored by Wall Street capital.

Many people ask: "Is it still a good time to get in? Is the IV too high?" In fact, from the options data, BMNR's current 30-day implied volatility is about 100%, with an IV Rank of only 0%, down from the high of 160% at the end of July. Although the absolute value is still relatively high, it is in a 'cooling' state compared to historical levels.

But don’t misunderstand: this doesn’t mean the market is over; rather, it is a signal for strategy switching under volatility compression.

📌 If bullish: consider an 8/15 expiration 35/40 Call Spread to control costs while betting on continued momentum;

📌 If neutral to bullish: sell the 8/15 32 Put to lock in a $3 safety cushion and collect high IV premiums;

📌 If expecting sideways movement: construct a 30–40 Iron Condor to harvest both Vega + Theta.

This post is for discussion only and does not constitute investment advice; profits and losses are your own responsibility. #ETH