March 11, 2026 - March 13, 2026, the 'June 30, 2026' option experienced extreme volatility, crashing from 23.5c to 7.5c, then rebounding to 26.5c the next day. The reason is likely extreme liquidity drying up in this intermediate tenor, where small flows caused chaotic price jumps, reflecting a lack of consensus on the medium-term token probability.
February 22, 2026 - February 25, 2026, the 'June 30, 2026' option crashed from 54c to 34.5c, while the 'December 31, 2026' option surged from 41.5c to 56.5c. The reason is likely a market correction of the previous term structure inversion (where June was > Sept), causing the crash in June; simultaneously, capital rotated into the December contract for long-dated speculation, driving a paradoxical rally despite the lack of fundamental news.
February 9, 2026 - February 10, 2026, the price of the 'June 30, 2026' option surged from 45.5c to 56c. The reason is likely a severe pricing error or liquidity squeeze, causing June prices to irrationally exceed September prices, creating an arbitrage window.