Today is Friday, and the little black swan from last night made everyone uneasy.

Tonight, the non-farm payroll data will be released; will there be an even bigger swan?

From the gamma ex data, we can see that we are currently in a negative gamma dense area, and I have been emphasizing that volatility is the main theme. The implied volatility has also rebounded, so we are looking forward to some changes.

The long negative gamma columns may be intimidating, but they will basically all expire today. How the market moves next remains intriguing.

The US stock market closed lower, and the conflicts in the political arena have cast a shadow of uncertainty. It is understandable for funds to seek safety.

At this moment, whether it is possible to catch a bottom, I am not sure. However, I believe that no matter when you catch a bottom, following the principle of diversification will not be wrong. Selling puts to catch a bottom can lower costs; each time, take out 5% of your position and buy the dip each time Bitcoin breaks a support level, which is relatively safe.

Currently, it hasn't broken the level yet, so we can wait a bit longer.

In contrast, ETH has to be said to be really strong, making people take notice.

I am starting to believe in the narrative of a strong market maker this time. The time to take off is not far away!

$eth $btc