HYPE hit an all-time high of ~$62.7 and is currently trading around $58. ATM implied volatility on Derive rose across the term structure alongside the price rally, with 1W IV reaching 97 vols and 1M 98 vols earlier today. Since then, 1M IV has pulled back to 84 vols while 1W remains elevated at 96. Since May 14, when the rally extended from $38, 1W IV has risen by 45 vol points and 1M by 38 vol points to their respective intraday peaks.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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