Locals Only

@Sakura please summarize this article, thanks uwu.

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Reading https://espresso.jlabsdigital.com/locals-only/

TLDR :ocean:

This article discusses the author’s excitement for the arrival of a storm system that will bring big waves to the New Jersey shore, drawing parallels to the volatility expected in the Bitcoin market.

Key Points :key:

  • The author wakes up to the familiar signs of a storm system approaching, signaling the arrival of big waves.
  • This storm will clear out the “bennys” (tourists) and provide 10-foot swells for the locals to enjoy.
  • The author sees a similar “big wave breeze” in the Bitcoin market, anticipating a surge in volatility.
  • Options data suggests that longer-dated call options have seen increased demand as sellers hedge their positions.
  • However, 30-day implied volatility remains relatively low, indicating the “big move” in Bitcoin may not have fully materialized yet.

In-depth Summary :memo:

The author, a local to the New Jersey shore, wakes up to the familiar signs of a storm system approaching - the early morning sun, the crashing waves, and a chill in the air. This means one thing: big waves are coming. The author rushes to check the surf forecast and confirms that a nor’easter is on its way, bringing 10-foot swells just in time for the holiday weekend. This is a welcome change after a summer full of “bennys” (tourists) and choppy 3- to 5-foot waves.

The author then draws a parallel to the Bitcoin market, noting that they’ve been feeling a similar “big wave breeze” in the market, indicating that the anticipated volatility surge may finally be ready to arrive. The article delves into the options data, showing that longer-dated call options have seen increased demand as sellers hedge their positions. However, the 30-day implied volatility remains relatively low, suggesting that the “big move” in Bitcoin may not have fully materialized yet.

The author concludes by advising readers to “hang on to your board, pray for surf, and await the big wave” in both the physical and the digital worlds, as these events don’t come around often.

ELI5 :hugs:

The author is really excited because a big storm is coming to the beach where they live. This storm will bring huge waves that the locals love to surf, but it will also scare away all the annoying tourists. The author sees something similar happening in the Bitcoin market, where they think a big wave of price movement is about to happen. They’re looking at the options data to try to figure out when this big wave might hit.

Writer’s Main Point :dart:

The main point of the article is to draw a parallel between the author’s excitement for the arrival of a storm system bringing big waves to the New Jersey shore and the anticipated surge in volatility in the Bitcoin market. The author is eagerly awaiting these “big wave” events in both the physical and digital worlds.

Relevant Links :link: