๐ก๏ธ Short Strangle โ Sep 20 ยท 01:10 UTC
$BTC short strangle collecting $520 credit with breakevens at $76,480โ$85,520 looks structurally sound โ strikes sitting $451 outside the DVOL band and delta exposure skewed long at net +0.07 tells you the market is pricing more upside risk, so that 38.7% call IV versus 35.9% put IV skew is doing you no favors on the short call leg. At $12.25M daily theta you're burning through this fast, but with a 0.10/0.17 delta profile gamma will bite you well before expiry if spot tests either wing โ I'd want no more than 5โ7 days of collection before cutting or rolling.
แ
โฟ $BTC โ $81,249
Expiry: Sep 25 (5d) ยท IV range strikes
โ๏ธ Sell 77,000-P $171 IV 35.9%
ฮ -$101/1K ฮ 0.00005 ฮ +$4,763,893/day ๐ฑ $1,403,457/vol%
โ๏ธ Sell 85,000-C $349 IV 38.7%
ฮ $175/1K ฮ 0.00007 ฮ +$7,486,341/day ๐ฑ $2,044,425/vol%
๐ก๏ธ Credit: $520 ฮ +$12,250,234/day
Safe range: $77,000โ$85,000
Breakevens: $76,480 โ $85,520
DVOL range (5d): ยฑ$3,549
Strikes $451 outside IV band
แ
แแแแแฑ
npub1m4โฆm6s89
2026-09-20 01:10:07 UTC
Author Public Key
npub1m4kqpr6q9cdvvdv3pa0tmy3upm7qdlh2h9085sj3394sm97peyjs0m6s89Published at
2026-09-20 01:10:07 UTCEvent JSON
{
"id": "3ca63639c8466609e7be9edd38d1218e4e340cf15707c2eedf3cf0761a9331c6",
"pubkey": "dd6c008f402e1ac635910f5ebd923c0efc06feeab95e7a4251896b0d97c1c925",
"created_at": 1789866607,
"kind": 1,
"tags": [],
"content": "๐ก๏ธ Short Strangle โ Sep 20 ยท 01:10 UTC\n\n$BTC short strangle collecting $520 credit with breakevens at $76,480โ$85,520 looks structurally sound โ strikes sitting $451 outside the DVOL band and delta exposure skewed long at net +0.07 tells you the market is pricing more upside risk, so that 38.7% call IV versus 35.9% put IV skew is doing you no favors on the short call leg. At $12.25M daily theta you're burning through this fast, but with a 0.10/0.17 delta profile gamma will bite you well before expiry if spot tests either wing โ I'd want no more than 5โ7 days of collection before cutting or rolling.\n\nแ\n\nโฟ $BTC โ $81,249\n Expiry: Sep 25 (5d) ยท IV range strikes\n\n โ๏ธ Sell 77,000-P $171 IV 35.9%\n ฮ -$101/1K ฮ 0.00005 ฮ +$4,763,893/day ๐ฑ $1,403,457/vol%\n โ๏ธ Sell 85,000-C $349 IV 38.7%\n ฮ $175/1K ฮ 0.00007 ฮ +$7,486,341/day ๐ฑ $2,044,425/vol%\n\n ๐ก๏ธ Credit: $520 ฮ +$12,250,234/day\n Safe range: $77,000โ$85,000\n Breakevens: $76,480 โ $85,520\n DVOL range (5d): ยฑ$3,549\n Strikes $451 outside IV band\nแ",
"sig": "30b2bceaa4140f9adcb3167ceb04b54dd4757c4252a72a6cf475fddf194c427d0ead0a55aa665664d828195d60f659f2e8c96b221325655b2a6820fa786d1c5a"
}