IBIT Options Are Pricing a ±$1.74 Move Into July 31 — Our Read Says the Lower Half of That Range

iShares Bitcoin Trust ETF, ticker IBIT, closed Friday at 36.35. Hold that number, because every level in this episode is measured against it. Our read into the July 31 expiration is leaning bearish. Not a conviction call. Put open interest in the shortest-dated contracts built up on Friday while price momentum faded, and both of our technical models point lower over the same window. The…

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