[Gate Research Institute: Implied Volatility Remains in High Oscillation, Gate Exclusively Launches Rolling Sell Options Tool] According to observations by Gate Research Institute, the implied volatility (IV) in the options market this week remains in high oscillation, with BTC and ETH IV at 46% and 70%, respectively. From the skew structure perspective, BTC skew across all maturities converged to approximately -5 vol this week, while ETH showed structural divergence with increased short-term hedging demand. Meanwhile, ETH forward skew remains relatively stable, whereas BTC maintains steeper downside protection demand. The largest block trade by cumulative volume involved buying BTC-131225-90000-P and selling BTC-131225-98000-C, with a total transaction of approximately 1,000 BTC and net premium expenditure of around $170,000. Gate has exclusively launched a convenient options trading tool—the Rolling Sell Options product—to assist users in automatically and continuously selling options within a set period. Users can customize Delta/Strike contract selection, expiration date settings (T+1/T+2/T+3), execution method for sell prices, quantity, and optional take-profit/stop-loss parameters. The strategy will automatically execute opening positions daily and seamlessly transition to the next period upon expiration, achieving fully automated operation. This feature supports clear risk indicator displays, margin estimation, projected trading paths, and other auxiliary information to help users manage strategy execution more intuitively.