"They promised white sandy beaches. They forgot to mention the rip currents."
Great article about holiday and tail risk by Conrad Carvalho, Head of Trading @Two_Prime
1) Not often I focus on ETH, but this is where the action is. Lock in:
Readers may recall Dec 3.2+3.5-6k Call spreads being bought mid-May at ETH 2500.
This guy returned, rolled 3.2+3.5k Calls to the 4k Strike, and with $16m premium spent it on Dec 4k-6k, and 5k-7k Call spreads.
1) BTC Puts bought last week playing their part on the fall in Spot down to 112k on Saturday.
No continued outsized trades, but Fast money continued to buy momentum Puts, some TPd, and Instos/miners selling out OTM Aug+Sep 125k+ Calls.
Put Skew firms a little more, but contained.