http://Greeks.Live Daily Briefing of Chinese Community ===== Release date: 2023-03-01 Overall market sentiment ===== The market sentiment is neutral and weak, with most traders expecting a pullback and focusing on key support levels such as BTC $7000 and BNB $595. Some members in the group have seen a large number of buying orders from BNB concentrated around 595, which may trigger a rebound. hot topic ===== • Option theory discussion: The group discussed in detail the strategy of zero gamma option, which can eliminate gamma exposure by combining two adjacent term options, thus mainly exposing to Vega risk The structure needs to maintain theta slightly negative to avoid excessive greed for positive theta, otherwise it may lead to risk exposure of PnL below the zero axis The discussion pointed out that this structure is actually building products similar to DVOL futures, but the current market liquidity is insufficient, spreads are large, and arbitrage difficulty is high