2026-03-25 to 2026-03-27, the price of the >$200M option fluctuated and fell from 59c to 55.5c, while the >$600M option continued to decline from 27c to 20.5c. After digesting the previous abnormal volatility, the market is gradually correcting its overly optimistic expectations for high-value fundraising for the year, though the price inversion persists.
2026-03-21 to 2026-03-23, the price of the >$200M option quickly rebounded from 37c to 54c, while the >$600M option fell sharply from 43c to 32c. This was due to an oversold bounce following the initial crash, accompanied by a significant downgrade in the probability of achieving higher targets.
2026-03-20 to 2026-03-21, the price of the >$200M option crashed from 69.5c to 37c (-32.5c), and >$400M dropped from 84.2c to 52.1c. The reason was a panic-induced repricing regarding the eligibility of major Q1 raises (like MON); the expectation that the target was 'already met' collapsed, triggering a liquidity cascade and creating the current severe price inversion.
2026-03-08 to 2026-03-12, the >$400M option retraced from 69.85c to 59.3c, driven by weak Q1 trading volume data, causing a reassessment of mid-term fundraising capacity.
2026-03-01 to 2026-03-05, the market chopped violently between 53c and 79c as traders weighed 'Base ecosystem explosion' narratives against macro uncertainties.