Halcyon Waters
@Halcyon_Waters
Crypto options data & intelligence: vol surface, 37 Greeks, cohort positioning, 3+ exchanges. Built by ex-bank quants 👉 with REST API
Joined August 2024
91 Following 99 Followers
Clean visual, but it assumes dealers are short those puts. That’s a convention, not an observation. We infer dealer sign from taker flow instead.
Vanna can change how dealers respond to the market.
When puts remain out of the money, rising implied volatility can support buying and improve liquidity.
But once those puts move in the money, dealer hedging can reinforce selling pressure and increase volatility.
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