Greeks.live researcher: Options data shows that large investors believe that there is little risk of short-term surges and crashes, but there will be big fluctuations in the first half of the year

Adam, a macro researcher at Greeks.live, posted on the Big calls and big puts each accounted for 30% of the trading volume, which mainly consisted of 4 liquidation block trades and several diagonal spreads. The margin released by such a large-scale move of positions by large investors immediately buys the diagonal spread, longs the forward fluctuations, and at the same time bears short-term tail risks to reduce costs. To put it bluntly, large investors believe that there is little risk in short-term (within one month) sudden rise and fall, but there will be big fluctuations in the first half of the year.