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TheKingfisher Profile picture
@kingfisher_btc
Aug 21 • 5 tweets • 2 min read Twitter logo Read on Twitter
$ETH GEX+ update
Interpretation and how to read it ⬇️ Image
How to read the GEX+ ?

Delta > 0 (blue-green) → dealers tend to trade against price action to stay hedged
Delta < 0 (purple-red) → dealers tend to trade along with price action to stay hedged
Delta = 0 (transparent) → Deltas are hedged, a major shift in price action is coming
cheatsheet Image
Also don't forget, 2 days left to enjoy a free #ETH option trade on @Coincall_Global , the latest no-KYC exchange with actually good options and futures liquidity!


Image
$ETH option dealers are currently hedged but some volatility could bring us down pretty quickly

They’ll also be tempering up moves

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More from @kingfisher_btc

TheKingfisher Profile picture
Jun 29
Not your keys, not your coins.

What a black swan event could produce ?
What a potential depeg could lead to ?

Depeg could make all the DeFi run and liquidity dry.

Linear short USDT isn't cash
Cash is Coinbase and Kraken

Orderbook are weak, weak, weak. Bloody summer incoming🩸

Deribit Put OI
A run out of a majors stablecoin happened in the past and we see coins going up to the moon ripping short. Even if they are right and the product is supposed to die, short create a squeeze seen on LUNA/UST +10000%. Linear Short bad options to bet against Black swan
Read 11 tweets
TheKingfisher Profile picture
Oct 20, 2022
KF-GEX+: Gamma, Vanna, Exposure, and IV
A tale of cryptocurrencies' expected volatility

A 🧵

It all started with a research paper published by @SqueezeMetrics exposing the effect of Options Order
Flow in traditional financial markets, how to calculate it, and what kind of decision one could take from it. We will try to break down the options jargon to a direct Profit and loss practical point of view.
The option market
The majority of option volumes are generally underwritten by professional traders/desks, looking for a non-directional bet. They act as liquidity providers.
Read 25 tweets
TheKingfisher Profile picture
Mar 14, 2022
$BTC March 13 2020 - Created PTSD to many traders.

Kingfisher wasn't public yet, algos were buying at 5200 and market kept collapsing.

Any leverage trade here was instant punishment, with 100M USD liquidation in the matching engine burning the orderbook fast, it was scary.
The main reason of this cascading liquidations was
- Bitmex Infra ME/Risk
- Hedge fund liquidation
- Long Convexity
- Degens Liqs
- Arbitrage traders liquidated

How to win ?

Over-Collateralization
Avoid Toxic Orderflow
Linear Contracts for Long

blog.bitmex.com/convexity-rekt…
What could have been done better for Bitmex at the time the-kingfisher.medium.com/the-kingfisher…
Read 5 tweets
TheKingfisher Profile picture
Sep 23, 2021
The last two days have been liq hunting heavens
Across the markets, we've observed liquidations being very accurately picked up.

Over 770 trades were taken by the KF-OEMS over dozens of instruments. There's always a liq cluster about to get cleared somewhere
Have a look at the survival probability of $BTC traders.
It shows that those high leverages clusters are fully getting cleared several times a day.
The KF-OEMS is getting ready for public launch, it's a matter of days, until then, it's available for all our premium subscribers, just drop us a message and we'll set you up
Read 4 tweets

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