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Practical guides on BTC and ETH options analytics: gamma exposure, the Gamma Flip, Max Pain, skew and Deribit open-interest levels.
Gamma Exposure BTC (GEX): Market Maker HedgingGamma Exposure (GEX) describes how options market makers must hedge their BTC positions as price moves. Here is how to read net gamma, where the zero-gamma level sits, and how GEX is calculated from Deribit data.How to Trade the Gamma Flip in CryptoThe Gamma Flip splits the market into two volatility regimes. Below is the practical logic for using this level when trading BTC and ETH, and which setups fit above vs below it.Deribit Max Pain BTC: Max Pain StrikeMax Pain is the strike where Deribit options holders lose the most at expiry. Below is how to read the BTC max pain chart, what pain points are, and how to factor the level into trading.25-Delta Risk Reversal & BTC Options Skew25-delta risk reversal, skew and the IV smile are BTC options sentiment indicators. Below is what each one shows and how to read the implied-volatility skew on Deribit.Open Interest by Strike: BTC Call & Put WallsOpen interest (OI) by strike shows where the biggest BTC options money sits. Below is how to find the Call Wall and Put Wall, read options flow, and analyze Deribit block trades.Best Crypto Options Analytics PlatformWhat matters in a crypto options analytics tool, and how to choose a platform for tracking GEX, Gamma Flip, Max Pain and Deribit levels for BTC and ETH.Binance Borrow Rate as an Early Reversal SignalTo short a coin on Binance you must first borrow it. The cost of that loan — the interest rate — rises when many want to short and falls when few do. That makes the rate a leading gauge of pressure, and its deviation from normal (the z-score) a unique early signal of a possible price reversal. Information is for analytical and educational purposes only and does not constitute investment advice.