The thing about options is that participants in these markets are very good at pricing in expected moves. You'd be amazed at how often the options market nails the expected move in an instrument before it happens.
If you would've told me a few months ago that we'd see a large crypto exchange (FTX) go bust and later a number of big banks become insolvent and collapse to zero, I would've laughed you out of the room if you followed up with: "...and bitcoin will...
