# @tastyliveshow on YouTube

- **Type:** Video
- **Original URL:** https://youtube.com/watch?v=OMSmarac9Jo
- **Gondola URL:** https://gondola.cc/posts/67235027-tastyliveshow-youtube
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/008a9d97e3.jpg
- **Posted:** 2026-06-30T03:34:33.000+00:00
- **Account Owner:** tastylive (@tastyliveshow) — https://gondola.cc/tastyliveshow

## Caption

IBIT just showed put skew for the first time. Bitcoin products almost always carry call skew because of their tendency to rip higher in short bursts, so when the downside starts pricing richer than the upside, that is a fear signal worth paying attention to. Bitcoin is sitting at $60K with 52% IV, and the question is whether options are underpricing one of its biggest inflection points in years.

Mike Butler and Jermal Chandler walk the math: a risk reversal in August that sells the 30 put, buys the 38 call, picks up a 20 cent credit with no risk in the middle. Breakeven is around 55K Bitcoin. Plus why going further out in time gets you past the noise, why someone exercised an IBIT put with $200 of extrinsic left, and how the skew flips back to calls by December.

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Chapters
00:00 Bitcoin at $60K with 52% IV. That feels low
00:45 Jermal: short puts and IBIT LEAPs to get long
02:05 Assigned on the 35 put overnight. Someone panicked
02:55 IBIT at $33, IV rank 37, still healthy premium
03:22 Put skew in IBIT for the first time ever
04:24 Go further out to get past the noise
05:16 December call skew returns at the same strikes
05:35 Risk reversal: 20 cent credit, no risk in the middle
06:23 Breakeven at $30, about 55K in Bitcoin

#tastylive #bitcoin #ibit #optionsskew #impliedvolatility #riskreversal #optionstrading #mathcheck #tastytrade #cryptoptions

tastylive is a real financial network, producing hours of live programming every day. Follow along as our experts navigate the markets, provide actionable trading insights, and teach you how to trade. With over 120 original segments, and over 25 personalities, we'll help you take your trading to the next level, whether you are new to trading or a seasoned veteran.

tastylive content is created, produced, and provided solely by tastylive, Inc. ("tastylive") and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, digital asset, other product, transaction, or investment strategy is suitable for any person. Trading securities, futures products, and digital assets involve risk and may result in a loss greater than the original amount invested. Investment information provided may not be appropriate for all investors and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. Options, futures, and futures options are not suitable for all investors. Prior to trading securities, options, futures, or futures options, please read all applicable risk disclosures, including, but not limited to, the Characteristics and Risks of Standardized Options Disclosure and the Futures and Exchange Traded Options Risk Disclosure Statement found at https://tastytrade.com/disclosures/.

Past performance is not indicative of future results. Performance is not presented net of all commissions, fees, and expenses. Multi-leg option strategies incur higher transaction costs than single leg trades as they involve multiple commission charges. Examples provided are for illustrative, informational, and educational purposes only and are not intended to be reflective of results you can expect to achieve. Supporting documentation for any claims, including claims made on behalf of options programs), comparisons, statistics, or other technical data, if applicable, will be supplied upon request.

tastylive, through its content, financial programming or otherwise, does not provide investment or financial advice or make investment recommendations. tastylive is not a licensed financial adviser, registered investment adviser, or a registered broker-dealer.

## Stats

- **Views:** 962
- **Likes:** 23
- **Shares:** 0
- **Comments:** 2

## Tags

optionsskew, bitcoin, tastytrade, cryptoptions, riskreversal, mathcheck, ibit, tastylive, optionstrading, impliedvolatility

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