April 28, 2026 - April 30, 2026, the $16B option price fell from 59c to 51.5c; the $18B option plummeted from 45c to 35.5c, and continued down to 32.5c on May 1st, due to severe volatility caused by insufficient market liquidity.
April 28, 2026 - April 30, 2026, the $20B option price plummeted from 41.5c to 32c, also reflecting extremely poor market liquidity and corrections of irrational pricing.
April 23, 2026 - April 24, 2026, the $16B option price surged from 42c to 76c. This was driven by Kraken's co-CEO confirming the reactivation of their IPO process and Deutsche Börse's $200M investment boosting market expectations for a successful listing.
April 14, 2026 - April 17, 2026, the $16B option price fluctuated from 43c to 46.5c then dropped to 44c; the $20B option surged from 22.5c to 30c and then fell to 28.5c, showing a near 10c jump indicating some speculative trading.
April 7, 2026 - April 10, 2026, the $22B option price plummeted from 35.5c to 20.5c, while the $24B option surged from 16.5c back to 28.5c, causing a severe pricing inversion ($24B price higher than $22B). This was due to extremely poor market depth and lack of liquidity, where small trades triggered violent price swings.
April 1, 2026 - April 2, 2026, the $26B option plummeted from 44.5c to 18.5c, as the previous irrational pricing caused by poor liquidity was corrected by the market, moving closer to its true probability.
March 25, 2026 - March 27, 2026, the $22B option surged from 20.5c to 33c, and the $16B option rose from 28c to 38.5c. The reason is extremely poor market liquidity allowing isolated funds to push up specific strikes, causing severe logical pricing inversions.
March 16, 2026 - March 18, 2026, the $18B option surged from 56c to 74.5c, moving completely contrary to the negative news of Kraken pausing its IPO, indicating extreme chaos or manipulation within the market. Meanwhile, the $22B option fell from 54c to 46c.
March 1, 2026 - March 3, 2026, the $26B option fluctuated from 38c to 20c and then surged to 43c, while the $24B option moved from 50c to 47c and back to 48c. The reason is chaotic pricing due to liquidity dry-up.
February 28, 2026 - March 3, 2026, the $22B option price fell off a cliff from 43c to 23c. This trend completely diverges from the rise in $24B/$26B, which is extremely irrational and suggests a fracture in market depth.
February 28, 2026 - March 3, 2026, the $16B option price rose from 59.5c to 73c, indicating that despite the chaos in the middle strikes, confidence in the base valuation was momentarily strengthening.