Academy

Crypto Options Academy

Practical guides on BTC and ETH options analytics: gamma exposure, the Gamma Flip, Max Pain, skew and Deribit open-interest levels.

Options strategies

Strategy library (Position Builder)

32 BTC and ETH strategies — from Long Call to Iron Condor. In plain words, with payoffs, risk, breakevens and how to place strikes at GEX levels.

Options terms in plain words

Strike, expiration, premium, the Greeks (delta, theta, vega), IV and more — short and jargon-free.

Articles and guides

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 what it is, how to read the BTC chart, why Max Pain only makes sense for a single expiration, and when to use the gamma-weighted Flip Point instead.25Δ Risk Reversal & BTC Options SkewThe 25Δ Risk Reversal (RR) measures the implied-volatility skew between 25-delta calls and puts — the price the market charges for tail risk. Below: the formula, how to read its sign, how we compute it across venues, and how RR + GEX read together.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.AI Crypto Forecast on GEX Levels (BTC & ETH)The AI forecast is a set of daily BTC and ETH trade setups built not on sentiment but on options-market GEX levels. Below is how the AI reads gamma exposure and turns it into entries, stops and targets — and how to verify the result on an open track record.Order Book Imbalance: Cross-Exchange Liquidity SignalOrder book imbalance shows where liquidity is pushing — buyers or sellers dominating the book. Below is how to read imbalance, how it is computed cross-exchange, and how an imbalance RSI marks reversal zones.Liquidations & Large Limits: Reading Market PressureLiquidations show where leveraged positions are forced out; large limits show where meaningful trade flow is occurring. This is not a simple volume counter: our March 2020–September 2026 archive study examined 604,072 forced closures across Binance and Bybit to understand changing market-pressure regimes.

Information is for analytical and educational purposes only and does not constitute investment advice.

Crypto Options Academy: GEX, Gamma Flip, Max Pain & Skew Guides for BTC | Crypto Metrics Pro