Brief mkt thots We had a bearish impulse lower and I think the downside extremity (for now) was realised in the 60s area. Outside of a V reversal (which in my view is rather improbable, but ofc possible), these moves take time to resolve and we likely get a multi-week/month chop wood szn inbetween 80-60s In the near time implied vol is still elevated so it's safe to assume we continue to get good vol in both directions (especially given big macro week). Reading into daily swings too much will cause headaches/stress, leading to lack of clarity.. avoid price down = its over / bearish & price up = bullish / we're so back Price-wise, 64s and 1,900s probs good spot to look for longs next week if mr mkt provides - with the view we trade towards 75-80s at some point in the coming weeks Othersbtc looks like it wants lower, it looks to have topped at the end of the downside move (same dynamic happened in nov move lower); the bounces on alts have been relatively weaker, I think r/adjused longs are better played in majors for now tldr: I expect volatility, higher time frame chop, 75-80s to be a premium and 60-65s to be a discount; try not to go insane in between lol