Analysis: Community adopts cautious to bearish attitude towards crypto market, shifting interest towards metal market

Greeks.Live researcher Adam posted on social media that the community holds a cautious to bearish attitude towards the cryptocurrency market, with traders preferring to sell option premiums rather than make directional bets.

Key trading activity is focused on the December 26 options expiration price of $88,770, with traders discussing the major pain point at $98,134. Probability models show a 2x standard deviation of -$17,000 for the 6-month outlook, while also noting a shift in market interest towards the metal market.

Shift in option strategies - selling premiums in uncertain market: • Traders plan to implement bullish call spreads and naked put selling strategies, focusing on overall selling more call options while maintaining short-term bullish and bearish positions in specific proportions to capture premiums in a low confidence environment; • One trader executed an ETH sold strangle combination with strike prices of 2750/3150 expiring on January 2, highlighting the challenge of overtrading during thin liquidity over the holidays; • Consensus is forming to avoid trading until next Monday, as traders recognize that selling short-term bullish call spreads and long-term naked put options may be the optimal approach, although some are considering shifting to a simple iron condor strategy given the market uncertainty.

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