Bitcoin Put Skew

Quick note: after the sharp selloff last week market makers are repricing the downside risk in BTCUSD rate as traded on Deribit. Here are the skews for the first three months that I prepared.







The x axis is put delta, so it is in the same direction as strikes ( I do not know how to reverse axis so the numbers are declining from left to right )

There is a strong bidder for 2500 strike in Dec,  causing the spike in the last chart, but even without it we can see the elevated puts. On the other side, calls showing supply at this time, with largest sizes on the upside Dec calls.

In the meantime, someone on Twitter posted a painting by Ferdinand Hodler "Disillusioned One"


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