http://Greeks.Live Daily Briefing of Chinese Community ===== Release date: 2025-04-04 Overall market sentiment ===== Group discussions tend to focus on technical topics, with no clear consensus on price direction. Some members believe that volatility will decline in the short to medium term and are concerned about how to hedge risks through option portfolios. Some members are discussing the possibility of ETH reaching a long-term goal of $10000 in the future. hot topic ===== Volatility trading requires exposure purification and cannot be operated with a single option. It requires a combination strategy of options with different expiration dates When shorting volatility, it is necessary to consider the Vega difference between near month and far month options, rather than simply "buy near and sell far" or "sell near and buy far" After volatility purification, it is still not possible to completely isolate gamma and theta risks, and daily position adjustments are needed to maintain gamma neutrality Some group members prefer the virtual option strategy, derived from the Taleb barbell strategy, which uses peak cash flow to maintain exposure on both sides The essence of Xu Zhe's strategy is to believe that flat options are overpriced while virtual options are undervalued, and to profit through convex arbitrage