EPISODE · Nov 19, 2025 · 1H 7M
Bitcoin Tests 90k - Hedges Pay Off #88
from Crypto Options Unplugged · host Deribit Exchange
Bitcoin tests $90K as ETF outflows, whale selling and tighter funding markets weigh heavy. Imran & David break down the macro backdrop: Fed speakers turn hawkish, Dec rate-cut odds drop below 50%, equities wobble, liquidity still tight despite government-shutdown end. Hosts expect short-term pain (possible dip to high-$80Ks) but see relief soon from TGA spend-down and potential Fed “not-QE” front-end liquidity ops. Long-term bull thesis unchanged — more money printing coming in 2025–2026. Guest Sam Gaer (CIO, Monarch AM ) explains how he always keeps downside convexity in the book: buys near-the-money puts, sells 2× deep OTM “panic” puts to get paid for protection, delta-hedges actively and rolls profits Result: hedges pay for themselves most of the time and give dry powder to buy real dips.Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.
What this episode covers
Bitcoin tests $90K as ETF outflows, whale selling and tighter funding markets weigh heavy. Imran & David break down the macro backdrop: Fed speakers turn hawkish, Dec rate-cut odds drop below 50%, equities wobble, liquidity still tight despite government-shutdown end. Hosts expect short-term pain (possible dip to high-$80Ks) but see relief soon from TGA spend-down and potential Fed “not-QE” front-end liquidity ops. Long-term bull thesis unchanged — more money printing coming in 2025–2026. Guest Sam Gaer (CIO, Monarch AM ) explains how he always keeps downside convexity in the book: buys near-the-money puts, sells 2× deep OTM “panic” puts to get paid for protection, delta-hedges actively and rolls profits Result: hedges pay for themselves most of the time and give dry powder to buy real dips.Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.
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Bitcoin Tests 90k - Hedges Pay Off #88
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