The overnight IV of ETH options has decreased significantly, and friends who are doing near-sell and far-buy calendar spreads should have had good profits.

Can we continue to do calendars? From the data, it is feasible.

VRP remains positive, and the recent IV is still higher than the long-term.

Especially the gamma ex data shows that prices are in a comprehensive negative gamma zone, with significant price fluctuations likely oscillating widely between 2700 and 2900. It is even possible to touch 3000.

From a trader's perspective, selling high IV is a good business. After all, the long-term IV has remained flat, indicating that everyone is only looking at short-term volatility and has not fully turned bullish.

If you are more aggressive, purely shorting the recent IV and hanging a DDH insurance is also a viable option.

The overall sentiment for ETH has heated up, so try to go with the trend and avoid shorting the price. Either trade volatility or layout some bull spreads to earn premiums by following the market.

Wishing everyone prosperity~