Market sentiment is cautious, with options traders shifting to premium strategies.

【CryptoPush】Recently, traders have reached an interesting consensus: most are cautious or even bearish about the crypto market. This sentiment is directly reflected in trading activity, with many abandoning traditional directional bets in favor of selling options premiums to earn income.

Looking at specific data, the options expiration price on December 26th is clustered around $88,770, which is the level traders are most focused on. However, the most discussed pain point in market discussions is at $98,134. The probability model provides an interesting outlook: over a 6-month horizon, a two-standard-deviation downward risk shows approximately $17,000. Additionally, it’s worth noting that trading interest is beginning to shift toward the metals market.

Changes in trading strategies are quite evident. You’ll find many traders now planning bullish spread strategies and naked put selling combinations, aiming to sell large amounts of call options and then allocate short-term bullish and bearish positions in certain proportions. When market certainty is low, this approach can effectively capture premiums. An impressive case is a trader who during the holiday period set up an ETH straddle with strike prices at 2750/3150, expiring on January 2nd. Although general advice was to wait and see, this trader went ahead, highlighting the risks of overtrading during periods of low liquidity.

Many people now think it’s best to hold off until before next Monday. The entire community is gradually forming the view that selling short-term call spreads combined with long-term naked puts might be the most prudent approach. However, some are considering market uncertainty and believe that a simple iron condor strategy might be safer. Overall, during this market pause, everyone’s trading ideas are indeed adjusting.