Straddles are becoming cheap

Weekend volume in futures and perps hits 1-year low, while open interest remains stay near all-time highs. Meanwhile, IVs are pushing towards two-year lows

Futures premiums stay flat, with no noteworthy changes from last month.

The market is remarkably drowsy with no momentum. This has been reflected in low trading volumes. Per Laevitas, this weekend saw the lowest daily trading volume in offshore futures in the past 365 days.

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