Rangebound BTC Price Has Crypto Options Traders Shorting Volatility

“The implied price-moving range of the current 7-day average IV is about 4% for BTC. Still, the realized daily price moving range is less than 1%, or even less than 0.5%, which means that selling volatility will have relatively good returns, although the current IVs are also at historically low levels,” Ardern told CoinDesk. “Given the absence of big news in August, selling volatility and taking a vacation for solid theta gains is the only thing I can do right now.”