When I was an options MM in Korea, the retail UI was arguably worse than Deribit’s. Nevertheless, Korean retail traders accounted for ~33% of KOSPI 200 options trading at that time. Retail traders still figured it out. Same with Robinhood, Schwab, and brokers across China and India. Options aren’t “too complicated” for retail. With enough education and FOMO, people learn fast. Crypto CT is used to perps, so naturally everyone wants to make options look simpler. But we’re increasingly focused on a different crowd: Stock options traders. If you trade options in the US, Korea, China, or India and want to trade US stock options without border restrictions DM us.

Great report from @BlockScholes on the renaissance of onchain options. And great to see @CallPutApp included among the new generation of onchain options venues. 🙏 One point especially resonated with us: Options shouldn’t be limited to crypto. At CallPut, we’re bringing stock options onchain with markets such as $TSLA, $NVDA, $COIN and $SPCX, and building toward a simple place for anyone to trade equity options onchain. Perps brought directional trading onchain. Prediction markets brought probabilities onchain. We believe stock options are next. Thanks to the Block Scholes team for covering CallPut and the broader revival of onchain options. blockscholes.com/research/th…

The 3 “Memory Leaders” guarding the AI semiconductor boom:(showing huge drop tho) Micron: market cap US$1.108T, latest quarter revenue ~$41.5B, latest quarter operating profit ~$33.3B; America’s memory chaser with HBM, DRAM pricing leverage, and U.S. supply-chain value. Samsung Electronics: market cap US$1.218T, Q1 revenue ~$90B, Q1 operating profit ~$36.1B; the broadest memory empire across DRAM, NAND, SSDs, HBM, phones, displays, and foundry. SK Hynix: market cap US$1.006T, Q1 revenue ~$35.5B, Q1 operating profit ~$27.8B; the HBM vanguard with the sharpest AI-memory narrative. Thread: what makes each one different.

Running @karpathy's self-research loop on @OpenClaw options agents. 4 models competing, iterating, learning from their own mistakes. Llama 3.3 70B / DeepSeek 70B / Gemini 2.5 Pro / Qwen2.5-Coder 32B Wanted to go bigger. Can't. Learning trading activity actions eat tokens like crazy. Mac Studio is screaming 🔥 but the agents are getting sharper.

Why did Bitcoin crash? 🧐 @FortuneMagazine Not panic. A leverage blow-up. This drop came from ETFs + options + global macro colliding. Hong Kong hedge funds loaded up on deep OTM call options on IBIT, funded by yen carry trade money, betting on a short-term BTC moon. 🌕 What went wrong 📉 • BTC failed to rebound • Yen carry trade worsened → funding costs jumped • Funds also had silver exposure • Added leverage to recover losses • Margin calls hit • Forced liquidations followed • Large IBIT selling spilled into spot BTC Why no one saw it 👀 This wasn’t on-chain. It happened in spot ETFs + ETF options. Key difference vs the past ⚙️ CME options were cash-settled → no need to trade real BTC. ETF options are linked 1:1 to spot ETFs. The mechanical part 🤖 • Deep OTM calls → low delta → MMs bought little IBIT (quiet on entry) • BTC dropped → delta → 0, gamma collapsed • MMs were stuck with excess IBIT • To stay delta-neutral, they mechanically sold into a falling market Quiet on the way up 🤫 Violent on the way down 💥 Takeaway 🧠 Opacity + leverage + ETF options is dangerous. This crash makes a strong case for putting ETFs and options on-chain. Just a theory, but cleaner than most narratives out there 😎

Since @coinbase 's @DeribitOfficial acquisition, institutional crypto structured products are ramping fast. Most of these products are sell volatility(vol). In equities, this vol supply is balanced by real demand: retail buying options, keeping vol alive. In crypto? Almost no retail options traders, no vol buyers. Vol keeps bleeding lower. That’s exactly when vol buy becomes interesting. But there’s a catch: without retail inflow, structured products sold at ultra-low vol will eventually blow up. Callput.app is the onchain channel that brings retail option traders back into the market.

A options trading story in the Reddit '$1M to $2 million in 2025 in options only' I rarely post here because (a) I'm usually busy with multiple projects (not only trading); (b) I can't disclose the details of my methodology; (c) people criticize show-offs and I do too, but occasionally I'm myself curious about what's going on in the options world, who trades what, how do they profit, what risk do they take, what's different, new or unique, etc. That said, I trade exclusively options, with partial hedging through shares and occasional assignment. I manage a very large options inventory, which might be of interest to some. I’m not trying to sell anything, just sharing a rare peek into a style that might be different from most retail approaches. At any given time I hold options on 500 to 1,000 different underlyings, with more than 30,000 contracts on each side (long and short). I keep risk per trade low and don't sell naked options, and I’m typically net long more options than short. I grew my account from $240K in April 2023 to over $2 million as of today, without outsized bets on individual stocks. Instead, I trade volatility and skew, partially combined with direction on volatility and stock price, rather than making pure directional bets. The second screenshot shows my top YTD P&L by underlying, with no meme stocks or moonshots on the list. My methodology is based on billions of backtests ran 24/7 over five+ years, which has given me proprietary insight into option pricing, volatility, and skew. I usually harvest skew-related mispricings across each options chain. I also run 10 internal trade scanners that produce up to a million trade candidates per day. I then handpick a few, fine-tune them, and execute based on experience and intuition. While my process is systematic, it’s not automated but heavily discretionary and relies on deep know-how. Think of it as professional-grade trading, even though I’ve never worked at a fund. I mostly trade complex structures like spreads, butterflies, calendars, diagonals, ratios, calendar ratios, and backratios. I avoid condors and naked positions. At times I execute 50+ trades in a day, other times 10, sometimes none. One reason I'm sharing this is to show that there may be an edge in options, at least in the volatility and skew. At the same time I may know "too much" and am scared for everyone else, so I advise my family not to touch options. I also dealt with lots of unexpected and risky situations that I slowly learned to counter but still unable to counter all of them, for example acquisitions may cause very large losses in some cases or large wins in others. It's just one of the factors I have to stay aware of, especially when trading diagonals where, for example, I may sell 100-strike calls while buying 120-strike calls on a different expiry, being exposed on the 20-wide spread. I may also sell DOTM puts or calls against my current positions, which can also introduce risk at times. Though the unpredictability of volatility (IV) across tenors (DTEs) may be most challenging to handle since I'm mostly buying or selling it. At the same time 2025 was quite a good year for the market, without many pullbacks, so I've seen many posts about large gains. For me it was actually milder than 2024, as it's harder to trade options effectively when everything is expensive.