The positioning report, every second Tuesday
Positioning, not predictions.
Soundings reads the layer of the crypto-options book that a smooth arbitrage-free surface removes: where dealer gamma sits and flips, what got built and unwound, whether protection is bid or fading. It describes structure. It never forecasts price or volatility.
Latest · Issue 01
Soundings Issue 01: Bitcoin Options Positioning Report
Soundings Issue 01, a structural read of the Bitcoin options book. Where dealer gamma sits, taker-flow signed, and what the market is set up to do.
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Positioning, never predictions. No spam. Updates worth reading.
Soundings lands every second Tuesday, from 1 September 2026.
Soundings describes the structure of the crypto options book. It is not investment advice and contains no price or volatility forecast. Published by Halcyon Waters sp. z o.o. Data from Deribit.