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10x Research:比特币期权價格處於五年來低位,投資者仍偏多並積極對沖風險

2026-10-12 16:09:50

ChainCatcher 消息,10x Research 發文表示,比特幣期權價格已降至五年來低位,近月隱含波動率為 33.5%,較實際波動率低逾 4 個百分點,顯示期權定價相對便宜。過去一週,比特幣期權偏斜度下降近 3 個百分點,交易者集中買入 10 月到期、行權價為 7.8 萬及 8 萬美元的看跌期權,單筆大宗交易規模最高達 2.04 億美元。

10x Research 認為,這表明投資者整體仍持有多頭倉位,同時透過期權對沖下行風險,並非全面轉向看空。相比之下,以太坊期權市場呈現不同信號。其最大企業買家已表示將在數週內停止買入,期權交易以看漲期權賣方為主,且隱含波動率高於實際波動率。

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