Let's take a look at the data for sol.

Recently, sol has been experiencing severe fluctuations. The market makers' gamma data is also quite extreme, almost entirely in the negative gamma zone.

According to this logic, we can expect significant volatility in the near future and should consider a strategy of double buying + ddh.

From a fundamental perspective, it seems that sol has been abandoned by capital, with the ETF approval delayed and liquidity drying up.

So, has the doge officially changed positions, or is it just tricking retail investors into selling? Haha.

I recommend holding less sol spot and using options to profit from volatility.

Of course, the trading volume of sol options is relatively small, so the impact on the spot market is limited.

The market maker's options for sol show a one-sided negative gamma, which may also be because retail investors are using options to bet on a rebound or to hedge their short contract risks.

Therefore, we can only be certain that significant volatility is approaching, yet the direction remains uncertain. Perhaps being bearish is a cognitive bias.

At least from the total contract volume perspective, the bull is still present.

Wishing everyone prosperity~