Today's options structure
Where dealers are positioned, and the range the options market is pricing for the week ahead.
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Book state
Descriptive state of the options book — what it is, not what to do. One headline per asset; everything under it is what that headline is made of.
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Today's verdict
Quant Daily · 23 Sep 2026
BTC 85.3k, long-gamma tape into Friday's expiry. Gamma wall sits at 85k — pin zone 84.5–87k. Above: 86.3k production cost, then 88–90k call wall. Below: liq clusters 84.5k / 82.9k. Options price ~1% odds of a −10% move by Friday.