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Crypto Options Unplugged
Deribit Exchange
109 episodes
1 week ago
Join Imran Lakha and David Brickell on 'Crypto Options Unplugged,' your weekly-go-to crypto podcast. Expect in-depth analyses valuable insights, expert opinions, and entertaining discussions on the crypto market's hottest topics. Don’t miss out - tune in, subscribe, and stay plugged into the pulse of the crypto world!
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Self-Improvement
Education
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All content for Crypto Options Unplugged is the property of Deribit Exchange and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
Join Imran Lakha and David Brickell on 'Crypto Options Unplugged,' your weekly-go-to crypto podcast. Expect in-depth analyses valuable insights, expert opinions, and entertaining discussions on the crypto market's hottest topics. Don’t miss out - tune in, subscribe, and stay plugged into the pulse of the crypto world!
Show more...
Self-Improvement
Education
Episodes (20/109)
Crypto Options Unplugged
Bitcoin Disappoints in 2025 But The Debasement Trade Is Still On #92

In this Christmas episode, Imran and David reflect on a frustrating 2025 for Bitcoin - despite gold/silver moves, ETF inflows and increasingly bullish macro and policy tailwinds. The duo blame persistent whales selling and reflexive “4-year cycle top” concerns for capping the upside. The liquidity outlook is set to brighten in 2026 with the FED’s new T-bill purchases and SLR tweaks for banks to buy more duration. The financial suppression playbook should be fully engaged. They still expect another big debasement wave to hit next year, driving Bitcoin (and risk assets) higher once year-end funding squeezes fade. Stay patient. The structural bull case is stronger than ever.


Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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1 week ago
40 minutes 39 seconds

Crypto Options Unplugged
Will The Last FOMC of 2025 Trigger A Santa Rally In Crypto #91

Bitcoin chops sideways into the final FOMC of 2025 — 25 bps cut is priced to perfection, but the real game is the guidance: will Powell hint at aggressive 2026 cuts and, crucially, confirm front-end liquidity ops (“not-QE QE”) to ease funding stress? Imran & David debate the Bank of Japan headache (hiking into stagflation while forced to buy bonds = yen likely the escape valve) and why dollar-yen ripping to 200+ could actually be bullish for hard assets long-term. Today's special guest was James Check, co-founder of CheckonChain discussing what he's seeing from the on-chain and options world to guide his views into 2026.



Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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3 weeks ago
1 hour 6 minutes 31 seconds

Crypto Options Unplugged
Funding Stress vs. Liquidity Wave – What Happens Next In Crypto? #90

Bitcoin dropped after Bank of Japan hints at a December rate hike — markets flash back to August’s carry-trade scare and crypto dumps harder than stocks. Imran Lakha (Options Insight) & David Brickell (FRNT) push back: the real “carry unwind” fear (Japanese investors repatriating $4T in foreign assets) is overblown — domestic institutions move slowly and Japan’s stagflation mess actually makes the yen weaker long-term. Real problem remains US funding stress: TGA drawdown slowed by heavy T-bill issuance, QT ends this week but front-end pressures still building. Fed rate cut next week helps a little, but real relief only comes when the Fed proactively supplies front-end liquidity (“not-QE QE”). Until then, expect choppy price action into year-end.

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4 weeks ago
34 minutes

Crypto Options Unplugged
Bitcoin hits $80K: Is The Pain Over? #89

Hosts Imran Lakha (Options Insight) and David Brickell (FRNT) are joined by guest James Van Straten (CoinDesk) this week as Bitcoin bounces off the low-$80Ks after a brutal 35% correction. James explains why the pain felt worse than previous dips this cycle: short-term holders fully underwater, OG whales finally distributing, treasury-company euphoria popped, and the Oct-10 liquidation cascade wiped out leveraged buyers fast. ETFs, however, kept buying the dip — AUM only down ~5% from peak despite the price carnage. James remains convinced that MicroStrategy is NOT about to blow up (converts don’t put until 2027–28), but the treasury-company leverage party is over for now — shift is toward lending BTC for yield or issuing preferreds. The key takeaway is that 80k or below is a great accumulation level and the cycle top is not expected until 2026 as the mid-terms in the US will likely keep the money printers spinning. Stay patient, keep some dry powder/hedges, the big liquidity wave is coming.


Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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1 month ago
47 minutes 35 seconds

Crypto Options Unplugged
Bitcoin Tests 90k - Hedges Pay Off #88

Bitcoin tests $90K as ETF outflows, whale selling and tighter funding markets weigh heavy. Imran & David break down the macro backdrop: Fed speakers turn hawkish, Dec rate-cut odds drop below 50%, equities wobble, liquidity still tight despite government-shutdown end. Hosts expect short-term pain (possible dip to high-$80Ks) but see relief soon from TGA spend-down and potential Fed “not-QE” front-end liquidity ops. Long-term bull thesis unchanged — more money printing coming in 2025–2026. Guest Sam Gaer (CIO, Monarch AM ) explains how he always keeps downside convexity in the book: buys near-the-money puts, sells 2× deep OTM “panic” puts to get paid for protection, delta-hedges actively and rolls profits Result: hedges pay for themselves most of the time and give dry powder to buy real dips.



Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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1 month ago
1 hour 7 minutes 5 seconds

Crypto Options Unplugged
Clearing Crypto: Risk, Yields & the Future #87

Host Dave Brickell (FRNT Financial) welcomes post-trade expert Quintin Archer (Panda Logic) with Imran away this week. Quintin explains how clearing houses in traditional finance manage risk and settle trades safely. He shares how firms like LCH are now bringing that same trust and efficiency to crypto with cash-settled Bitcoin and Ethereum futures and options. The future? Blending TradFi and DeFi through tokenization, stablecoins, and public blockchains because innovation happens fastest in open networks. In terms of markets, U.S. liquidity pressures eases as government spending is likely to resume; Fed may soon add support. Imran gives a remote vol update from Miami. Like and subscribe!


#crypto #trading #cryptocurrencynews #Podcast

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1 month ago
46 minutes 58 seconds

Crypto Options Unplugged
Money Is Broken But Bitcoin Can Fix It #86

Money is broken—but Bitcoin can fix it. Hosts Imran Lakha (Options Insight) and Dave Brickell (FRNT) welcome Joe Bryan, creator of viral video "What's the Problem?" From index trader to Bitcoin evangelist, Joe explains how fiat's "big red button" enables endless money printing, eroding purchasing power and incentivizing short-termism, corruption, inequality, health crises, and societal decay. Bitcoin separates money from state: rules without rulers, energy-bounded scarcity, self-custody via 12-word seeds, censorship-resistant transfers. Crypto ≠ Bitcoin—most is fiat with CEOs/marketing. Joe encourages people to embrace self-custody and educate themselves. Bitcoin is the life raft in debasement storm that keeps getting worse. Enjoy this feature-length episode—watch Joe's video linked below to learn more! Like and subscribe.

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1 month ago
1 hour 27 minutes 18 seconds

Crypto Options Unplugged
How To Run A Bitcoin Treasury With Protection #85

Crypto markets rebound into the range as US-China trade deal hopes rise and stocks hit ATHs ahead of tech earnings. Hosts Imran Lakha (Options Insight) and Dave Brickell (FRNT), with guest Alexander Hagen (ACE Digital Bitcoin Treasury CEO), discuss FOMC’s potential QT end fueling further upside. Alex shares his TradFi-to-crypto journey, building a Bitcoin treasury via options, emphasizing simplicity: "Just Bitcoin." He views ETH as "oil in the machine" or NASDAQ-like, not for treasuries. Options strategies for treasuries: own calls for upside, while some sell puts for yield and further accumulation. They remain bullish on Bitcoin’s debasement hedge properties amid fiscal dominance. Like and subscribe!



Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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2 months ago
36 minutes 25 seconds

Crypto Options Unplugged
Trade War Cools But Crypto Lags Ahead Of CPI Data #84

Crypto markets fail to recover with equities despite dialed-back trade war rhetoric. Long-term holders are selling, while demand from digital asset treasuries and ETFs wanes. Put skew and volatility remain elevated, signaling caution ahead of CPI data. Hosts Imran Lakha (Options Insight) and Dave Brickell (FRNT) break the down cross-currents: funding market pressures forcing Fed QT to end, persistent debasement trade via liquidity needs, and potential risk-off in the near-term as price action derteriorates. Short-term caution advised—no bearish thesis change, but navigate volatility with proper sizing. Bullish long-term on Bitcoin amid systemic money printing but don't need to be a hero! Like and subscribe!



Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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2 months ago
26 minutes 2 seconds

Crypto Options Unplugged
Crypto Tumbles: Is the Bull Market Over? #83

Crypto markets tumble as Trump reignites trade tensions with China, causing nearly $20B in liquidations of leveraged positions. Volatility spikes and put skew explodes, especially in Ethereum, with altcoins facing massive drops. Hosts Imran Lakha (Options Insight) and Dave (FRNT), joined by Friedrich Herzog (Matrixport), discuss if it's time to buy the dip. Friedrich shares his journey from traditional finance (systematic equities at Goldman Sachs) to crypto, emphasizing Matrixport's focus on diversified alpha generating strategies. Despite the spat creating turbulence, macro tailwinds remain strong—position sizing, avoiding leverage, and using options for hedging are key to navigating washouts of weak hands. Like and subscribe for more!



Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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2 months ago
30 minutes 10 seconds

Crypto Options Unplugged
Bitcoin Makes New Highs Amidst US Government Shutdown #82

Crypto markets surge with gold as Bitcoin hits a new high near 126K, driven by a US government shutdown and tariff-funded stimulus talks fueling the debasement trade. Hosts Imran Lakha (Options Insight) and David Brickell (FRNT), with guest Oleksandr Proskurin (Arkis), note low volatility, with funding rates and call skew stable, indicating institutional-driven spot buying, not speculative futures led frenzy. Record $6B weekly ETF inflows signal maturing markets, with Solana’s low 70-80 vol and potential ETF approval suggesting upside to $250+. Arkis’s DeFi prime brokerage bridges on-chain and centralized finance, offering portfolio margin and KYC-compliant lending. Macro tailwinds—global rate cuts, rising liquidity, and Japan’s bond market pressures—support Bitcoin’s role as a hedge against fiat debasement. Like and subscribe for more!


Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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2 months ago
44 minutes 10 seconds

Crypto Options Unplugged
Uptober Starts! As Alts Outperform And BTC Bounces #81

Crypto markets dipped into the September options expiry but rebounded strongly after flushing out weaker longs, with ranges holding firm. Hosts Imran Lakha (Options Insight) and David Brickell (FRNT), with special guest Greg Magadini (Amberdata), discuss persistent bearish sentiment despite a supportive macro backdrop—sticky 2.9% inflation, 3.8% GDP growth, and no major recession fears. Bitcoin’s realized volatility has collapsed to a 20 handle, while ETH and Solana show bullish chart patterns and persistent higher volatility, with ETH eyeing 5,000 and Solana’s December options at 70 vol looking attractive. Global debt dynamics, particularly Japan’s 250% debt-to-GDP, signal more fiat debasement, reaffirming the Bitcoin and gold bull cases. A potential US government shutdown is dismissed as a non-event, but delayed jobs data could add volatility ahead of the Fed’s October meeting. Like and subscribe for more!


Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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3 months ago
35 minutes 59 seconds

Crypto Options Unplugged
Crypto Dumps Post-Fed Cut: Short Squeeze or More Pain? #80

Crypto markets seesaw after the Fed’s 25-basis-point rate cut, signaling more easing ahead. Ethereum drops 6%, triggering liquidations at 2021 levels, testing key supports, while put protection spikes and funding rates turn negative, hinting at a potential short squeeze. Hosts Imran Lakha (Options Insight) and David Brickell (FRNT) analyze the flush-out of leveraged longs, with guest Sam Price (Crypto Lifer) offering a technical perspective, pointing to a head-and-shoulders pattern and a critical 200-period moving average on the 4-hour chart for Bitcoin at 113K. Despite the pullback, a Goldilocks macro backdrop sticky 3% inflation, slowing but resilient growth, and rising global liquidity supports a bullish outlook, with Bitcoin potentially targeting 190-250K. Watch for a V-shaped recovery or further correction to 98-103K. Like and subscribe for more!


#crypto #trading #cryptocurrencynews #Podcast


Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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3 months ago
53 minutes 2 seconds

Crypto Options Unplugged
Crypto Grinds Up: Fed Cut Looms, Will Bitcoin Break Out? #79

Crypto markets grind higher on low volatility as last week’s inflation data reinforced expectations for a Fed rate cut this week. Hosts Imran Lakha (Options Insight) and David Brickell (FRNT), joined by Usman Naeem (Global Head of Derivatives Sales and Trading at Coinbase), discuss whether this cut will spark crypto’s next leg up, given equities’ new highs and Bitcoin’s consolidation post-record levels. They discuss Coinbase’s recent acquisition of Deribit and what it means for the future of crypto options, institutional hedging driving put skew, and the maturing crypto market with digital asset treasuries (DATs) and DeFi growth. A Goldilocks macro backdrop—falling yields, strong liquidity, and no over-leverage—suggests a potential crypto melt-up in year-end. Like and subscribe for more!


Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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3 months ago
38 minutes 58 seconds

Crypto Options Unplugged
Crypto Lags Stocks & Gold: Fed Cut Priced, Institutions Hedge Exposure #78

Crypto markets lag behind soaring equities and gold as weak U.S. jobs data (22K print, June revised to -13K) fully prices in a September Fed rate cut. Hosts Imran Lakha (Options Insight) and David Brickell (FRNT), joined by Mark Hiriart (ZeroCap), discuss suppressed crypto volatility (Bitcoin vol in low 30s) amid a narrow range, with persistent put skew driven by institutional hedging demand. Inflation data looms as the Fed enters blackout, but a supportive macro environment—falling yields, lower oil prices, and global rate cuts—signals bullish tailwinds for Bitcoin and altcoins like Ethereum and Solana. They explore ZeroCap’s institutional focus and the growing OTC derivatives market, predicting a Bitcoin rally to 150K post-consolidation. Like and subscribe for more!


Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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3 months ago
48 minutes 17 seconds

Crypto Options Unplugged
Bitcoin Consolidates, ETH Stays Strong While Bond Yields Pop #77

Bitcoin touches near $107K over the weekend, with institutional buying slowing as focus shifts to Ethereum’s relative strength. Hosts Imran Lakha (Options Insight) and David Brickell (FRNT) analyze the market’s rejection of new highs after Jackson Hole, with put skew rising due to protection buying. Despite fragile global bond yields, higher odds of a September Fed rate cut, and long-term bullish crypto trends persist. They discuss Bitcoin’s price pattern resembling earlier ranges, predicting a recovery without retesting below $100K, and highlight potential volatility risks on the downside. Like and subscribe for more!


Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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4 months ago
28 minutes 38 seconds

Crypto Options Unplugged
Crypto Pulls Back Pre-Jackson Hole #76

Crypto markets pull back from highs ahead of Jackson Hole, with put skew rising amid protection buying on risks that Powell pushes back on rate cuts. Hosts Imran Lakha (Options Insight) and David Brickell (FRNT) analyze Bitcoin’s choppy range, quick dip recoveries after disappointing jobs data, and Ethereum’s surge toward all-time highs. They discuss the institutional treasury adoption and a supportive macro backdrop (slowing growth, disinflation, September rate cut pricing) which has led to the Summer strength. Imran runs through some charts with Gareth Soloway, Chief Market Strategist at Verified Investing to get his take on the recent dip and how it shapes the technical outlook. Volatility remains stable for now, but hedges are key for summer risks. Like and subscribe for more!


Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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4 months ago
49 minutes 22 seconds

Crypto Options Unplugged
Ethereum New Highs Incoming! #75

Crypto markets stay choppy over summer, with disappointing jobs data sparking dips that get quickly bought as rate markets eye a September Fed cut. Ethereum surges toward all-time highs, fueled by the Genius Act’s stablecoin boost and massive ETF inflows. Hosts Imran Lakha (Options Insight) and David Brickell (FRNT) analyze Bitcoin’s quick recovery, Ethereum’s dominance breakout, and the supply-demand dynamics driving alt season. They highlight Bitcoin and ETH treasury adoption, yield strategies, and a resilient macro backdrop of disinflation and global liquidity support. Like and subscribe for more!


Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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4 months ago
29 minutes 14 seconds

Crypto Options Unplugged
Bitcoin Holds Steady And ETH Soars As On-Chain Data Looks Strong #74

Crypto markets consolidate as Bitcoin hovers around 117K-120K, with Ethereum stealing the spotlight after a 30% rally driven by the Genius Act’s stablecoin clarity. Hosts Imran Lakha (Options Insight) and David Brickell (FRNT), joined by Dan Blackmore (Glassnode), explore on-chain insights revealing steady institutional buying along with profit-taking by long-term holders. Bitcoin’s structural health remains solid, while Ethereum’s narrative as the dominant layer-1 for stablecoins fuels massive ETF inflows and options volume. They discuss macro risks, including a $1.6T quarterly debt issuance and potential Fed liquidity support, reinforcing Bitcoin’s long-term bullish case. Like and subscribe for more!


Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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5 months ago
41 minutes 33 seconds

Crypto Options Unplugged
ETH Explodes As ALT Season Begins! #73

Crypto markets ignite as the Genius Act passes, boosting stablecoin adoption and fueling a 30% Ethereum surge in a week, with inflows overwhelming sellers and volatility soaring. Hosts Imran Lakha (Options Insight) and David Brickell (FRNT) dive into the long-awaited alt season, with Bitcoin dominance dropping to 60% and Ethereum leading the charge. The Genius Act’s regulatory clarity for stablecoins, settling heavily on Ethereum’s chain, drives massive ETF inflows and treasury strategies. They discuss Ethereum’s explosive options activity, macro stability, and risks like tariff deadlines and Fed chair uncertainty. Like and subscribe for more!


Deribit FZE does not accept UAE retail clients or US clients, and clients from other restricted countries.

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5 months ago
31 minutes 11 seconds

Crypto Options Unplugged
Join Imran Lakha and David Brickell on 'Crypto Options Unplugged,' your weekly-go-to crypto podcast. Expect in-depth analyses valuable insights, expert opinions, and entertaining discussions on the crypto market's hottest topics. Don’t miss out - tune in, subscribe, and stay plugged into the pulse of the crypto world!