http://Greeks.Live Community Daily Digest #daily ===== Published: 2025-10-17 Overall Market Sentiment ===== The group is predominantly bearish with traders watching key support levels at 108k, 107k, and 105k as BTC dropped sharply. Strong disagreement exists between bears calling for further downside to 102k-90k and some members viewing the selloff as a "bear trap," though the bearish sentiment dominates as 200 EMA daily support gets tested and gold outperforms at new highs around 4,300. Options Traders Navigate Extreme Volatility - Selling Puts Into Weakness ===== • Multiple traders aggressively selling weekend puts and 3500P/3850P on ETH despite the drawdown, with some experiencing significant losses as volatility spikes and puts initially move against them • Negative funding rates emerge as shorts pile in with 7k shorts added, while spot order books thin dramatically with Coinbase premium completely gone and ETH options markets seeing MMs pull all quotes temporarily • Heavy focus on put selling strategy at extreme strikes despite market weakness, with traders noting insane vols for October 20th expiry and viewing sub-3500 ETH levels as unlikely even in a crash scenario(Greeks.live)