#期权交割事件 The $28 billion options expiration has just concluded, and there's a key detail in this market move worth noting. After the expiration, March quarterly options became the largest holding, accounting for over 30%, mainly consisting of out-of-the-money call options — what does this indicate? It suggests that the market's expectation for further upward movement remains, but everyone is hedging risk using cheaper out-of-the-money options.

From a profit-taking perspective, this market structure change implies that volatility may persist for a period, and project teams' incentive policies and interactive activities will also adjust accordingly. It is recommended to focus on projects that leverage market uncertainty to launch new interactions and airdrops during this period. Usually, the returns during this time are more substantial because participation interest is dispersed. Also, pay attention to the sentiment in the options market; when a large number of out-of-the-money call options accumulate, it often signals a precursor to the next move.

Seize this window to prioritize deploying new projects that are in a cooling-off period, as they often allow for more interactions at lower costs.