English Community Daily Briefing ===== Release Date: 2025-08-05 Overall Market Sentiment ===== The opinions within the group are showing a divided trend, with traders experiencing complex emotions due to the sudden price drop that caught many off guard. While some members still maintain a bullish stance, others are facing negative returns and the dilemma of bullish options positions, reflecting the market's extreme volatility characteristics. Options Trading Pain - Bullish Options Hit Hard ===== • Multiple traders report a drop in bullish options, with positions becoming "worthless again" after the unexpected market decline. • Traders express frustration over negative returns, despite still holding onto their bullish beliefs. • The volatility environment is described as unchanged, with traders maintaining a neutral attitude towards volatility but favoring the current price levels over previous ranges.

This was one of my favorite interviews. We learned about Mel's edge on high time frame and low time frame trades. One thing he mentioned is that "I get low time frame trades messed up all the time" ...which as you have seen on my own TL I get these LTF moves wrong a lot too, but the sizing of the trade is critical. On a HTF swing like April you need to size up for the bigger move. On a LTF view utilizing 0-2 dte options or a 1 hour scalp on perps the size is much smaller. I've been on my journey learning and I am far from perfect but I try to get the HTF moves right to the best of my ability. My LTF hits could use a lot of improvement and this market seems to be a never ending journey of learning which is why it is so addicting for me personally.

Greeks Live x Mel Mattison

Explain this. Bitcoin options volumes are recording a record high compared to perps. While the "crypto options market" apparently doesn't exist.

Will be chatting with @GreeksLive tomorrow morning at 11:30 ET.

Theta decay accelerates. Especially in the last days before expiry. Here's an attempt at visualizing this viscerally.

⚠️UPCOMING STREAM WITH @MelMattison1 📅JULY 31st 11:30AM EST / 15:30 UTC Topics of discussion: 1.) @MelMattison1 's background and experience 2.) How Mel came from tradfi and discovered $BTC 3.) What risks lay ahead in the market? 4.) What invalidation criteria do you have for the bull case? 5.) What's the bear case? 🎙️Greeks Live Host: @satoshiheist 🔔TURN NOTIFICATIONS ON FOR STREAM LINK!

Community Daily Digest Published: 2025-07-29 Overall Market Sentiment The group shows mixed sentiment with some traders calling for immediate moves higher while others expect significant downside testing. Key levels being watched include 116800 as a critical downside target and 121k as a bullish afternoon target, with disagreement on whether the current action represents bullish selling or genuine bearish pressure. BTC Price Action - Technical Levels and Trading Views • Strong conviction that BTC will test 116800 with 99% confidence based on price action analysis, representing a significant downside target from current levels • Conflicting views on market structure with some seeing current selling as bullish selling requiring a dip before the next leg up to 125k • Long-term strategy emphasis on never selling BTC and using long-term call spreads (DEC, MAR) as the optimal approach, viewing USD as going to zero against Bitcoin

Seen a great deal posted about the 'largest notional' Options block trade - Aug8th 110k Puts x5k bought earlier this week ($5m spent) - a generously executed institutional trade. Aside from the ubiquitous use of notional to 'promote' size - many larger absolute blocks have taken place in the past at lower BTC Spot levels - it's revealing that $48m spent on 7k Dec 140-200k Call spreads at the same time has been somewhat overlooked even though it should not be overshadowed with greater notional and ~10x the premium spent. Additionally, the Aug8th 110k Put purchase was not all what it seemed in directional reasoning, and yet the Dec 140k-200k Call spread is difficult to argue as anything else but directionally transparent.

1) Tale of two flows. BTC OG 80k overhang a catalyst to ~110k Put hedging. On Glxy execution some fever as 115k breached. But another entity doubled-up with an extra $25m Dec 140-200k Call spread. On ETH the large Sep Call fly was TPd for 50% profit. Aug+Sep Call spreads added.