http://Greeks.Live Daily Briefing of Chinese Community ===== Release date: 2025-03-20 Overall market sentiment ===== The market is currently divided in opinions, with some investors paying attention to the trend of whales shorting BTC, while others remain optimistic about the long-term trend, and even some radical views predict that Bitcoin may rise to $444000. The discussion mainly focuses on risk management and strategy adjustment, with option traders paying attention to volatility risk premium and hedging strategies. hot topic ===== Several traders discussed the margin models and funding rates for exchange options and perpetual contracts, and believed that exchanges such as Binance assumed a borrowing rate baseline of 0.01% when calculating funding rates. Therefore, in most cases, short selling can yield an annualized return of about 10% Someone has suggested that hedging between spot BTC and perpetual contracts may be a strategy to achieve stable returns, but its returns are highly dependent on market sentiment and may not necessarily guarantee stable profits Professional traders within the group suggest setting a slightly wider threshold when hedging in Delta to filter out random fluctuations, but attention should be paid to changes in volatility surfaces and time risks. Setting too wide may result in significant losses during tail risk events