According to @godbole17, the one-year call-put skew remains biased toward puts, highlighting continued preference for downside protection in long-dated options markets (source: @godbole17 on X, Nov 25, 2025). In options markets, a put-biased skew means implied volatility for puts is higher than for calls of the same maturity, indicating stronger demand for hedges against downside moves (source: Cboe Options Institute; CFA Institute). For trading, a persistent long-dated put-skew typically supports risk-management structures such as protective puts or collars and can inform volatility-relative trades that sell richer put IV versus call IV with appropriate risk controls (source: Cboe Options Institute; CFA Institute).

According to @Andre_Dragosch, the 10-delta option strike from Friday's close points to a 132k USD level by the end of next week. Source: @Andre_Dragosch on X dated Oct 3, 2025. In options terminology, a 10-delta strike corresponds to roughly a 10 percent risk-neutral probability of expiring in the money over the option horizon and is used by traders as a tail-risk reference for short-dated moves. Sources: CBOE Options Institute; Deribit Knowledge Base. For trading, focus on spot relative to the 132k level into the relevant expiry window, monitor near-dated implied volatility and skew on the 10-delta wing, and review open interest clustering that concentrates hedging activity around prominent strikes. Sources: @Andre_Dragosch on X dated Oct 3, 2025; CME Group Options Education; Deribit Insights.