Options are a powerful way to accumulate or sell assets because you can get paid for placing what is essentially a limit order. Week 5 of Productizing Options: Options as Limit Orders 🧵

The latest epoch saw diverse outcomes in our Basic Vaults, highlighting the volatility in the current markets. 🔍 Check the detailed breakdown below. Thanks for your continued participation! 🌟 For full auction results, visit: https://t.co/BEYjjEEoDh

12/ Due to the current price action, one way to use the spike in wings while reducing hedge costs is a zero-cost Bearish Seagull Trade Setup: • 🟢 Sell $104k Call (28 Nov ‘25) • 🔵 Buy $90k/$80k Put Spread (28 Nov ‘25) Try it out on @ThetanutsFi today and good luck!

11/ $ETH Implied Volatility $ETH IV curves look similar to $BTC’s: → Options market is pricing larger potential swings in both directions → Traders are bracing for big movement, not just downside.

10/ $BTC Implied Volatility $BTC IV curves show: • A steepened frontend 10d wing • Skew sharply favoring puts This signals: ➡️ Market expects higher near-term volatility ➡️ Sentiment is tilted bearish, with traders hedging downside risk.

9/ ⚠️ Key Liquidation Zones Downside: • $BTC: ~$96k • $ETH: $3.1–$3.2k Breaks here → long liquidations + accelerated downside ( $ETH especially vulnerable as it hovers in this zone). Upside: • $BTC: $100k+ • $ETH: $3.3k+ ($3.5k = strong squeeze) Reclaims here → short

8/ 📈 Open Interest & Leverage Setup Across exchanges, OI shows: ➡️ More leveraged shorts than longs ➡️ Market sentiment remains cautious and bearish among perp traders.

7/ 📉 $ETH Price Action + ETH/BTC $ETH mirrors $BTC’s structure, but with more resilience: • $ETH is attempting to hold $3.2k • This relative strength shows up clearly in ETH/BTC, where $ETH is outperforming Overall, $ETH looks less fragile than $BTC here. (h/t @tradingview)

6/ 📉 Bitcoin Price Action $BTC staged a relief bounce last week from 100k → 104–106k, but selling resumed. • On Nov 13, $BTC closed near $99–$100k • Today (Nov 14), we’re sitting at $96k+ This is a key line in the sand. A daily close back above $98k would be constructive

5/ 📉 $ETH ETF Flows $ETH ETF flows are following the same pattern: Consistent negative net flows, matching $BTC ETFs (and diverging from DATCOs). ETF investors remain risk-off for now.

4/ 📉 $BTC ETF Flows Bitcoin ETFs continue flashing red. Yesterday alone saw $866.7M in outflows — a meaningful hit to sentiment.

3/ 📊 DAT Flows & mNAVs Across $BTC, $ETH, and even $HYPE DATs: • Total holdings have NOT dropped over the last 7 days. • mNAVs fell slightly — but this looks price-driven, not the result of asset outflows. Supply inside DATs is flat → the decline in mNAVs is due to

2/ 🌐 Market Update After a brief relief rally sparked by the end of the US gov shutdown, markets have flipped into a classic “sell the news” mode. Equities are falling, liquidity is tight, and Michael Burry just took a huge downside bet on $PLTR. Crypto followed: $BTC →

1/ $BTC slipping back below $100k flipped sentiment fast while downside hedges are rich. New bearish regime or just a shakeout? Either way, here’s how to use this backdrop to earn yield 🧵👇

On-chain options are hard. We make them usable. Our RFQ is now open and both visible and fully accessible on @base. You can try a trade on our site, or pull liquidity with real time quotes through our OptionBook

If you are ready to hedge or to build, try a trade on the site or integrate and pull quotes from our OptionBook. Share your preferred strike grid/expiries and we will connect you with our market makers for more tailored quotes. DM us to learn more!

At @ThetanutsFi, we try to ensure there is enough liquidity to power real hedges and real payouts to meet the growing demand for on-chain options. We're already seeing a host of builders testing out the RFQ. More official launches coming soon 👀

Tight markets need hedges you can put on in size, quickly, and at fair carry. Perps neutralize direction which is delta, not volatility which is vega. If you cannot offload vega, quotes widen or size disappears. Maintaining price continuity while constantly rebalancing vega,

This is a big deal because you now have readily available native on-chain settlement, transparent quotes and Greeks, and composability with vaults, perps, and treasuries. Few teams attempt this because you need options microstructure expertise together with live execution across

On-chain options are hard. We make them usable. Our RFQ is now open and both visible and fully accessible on @base. You can try a trade on our site, or pull liquidity with real time quotes through our OptionBook

Final day at Founders’ House — decks tested, ideas challenged, lessons shared. Founders left stronger, sharper, and ready for Devcon Argentina. Stay tuned , still day one. 🟦