In this episode, Mike is joined by Nick Trileski, a crypto options trader at Cumberland DRW, for an in-depth discussion on the current state of the crypto options and derivatives market. They explore the growth of options trading, the psychology around all-time highs, and the increasing institutional demand as evidenced by rising open interest. The conversation also touches on the dynamics of perps versus options, the risks and opportunities in basis trades like Athena, and the potential for continued growth in the crypto options space.

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Timestamps:

(0:00) Introduction

(2:03) State of Crypto Options

(7:04) Perps vs Options

(16:53) Perps vs Spot Growth

(21:42) Sei Ad

(22:41) Uniswap Ad

(23:45) Who Uses Options?

(30:18) Volatility of Crypto

(33:35) Psychology of ATHs

(40:37) Institutional Demand of Open Interest

(43:00) Is Retail Back?

(51:25) Ethena's Strategy

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Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.