March 18, 2026 - March 21, 2026, the '$100M Yes' option crashed from 29c to 16c. This drop of over 40% occurred while the $50M option remained stable (~77c-79c), indicating that the market is not questioning the probability of the token launch itself, but has become drastically more bearish on the valuation, or a specific whale liquidated positions in this illiquid strike.
March 12, 2026 - March 14, 2026, the '$400M Yes' option experienced extreme volatility, spiking from 2.25c to 43.5c before crashing back to 4.85c. This 20x intraday move is most likely attributed to a 'fat finger' buy order or algorithmic glitch amidst thin liquidity, rather than any fundamental change.
Feb 28, 2026 - Mar 5, 2026, the '$400M Yes' option crashed from 19.05c to 1.9c. This marks the complete unwinding of the irrational liquidity spike observed previously, with prices returning to levels consistent with fundamentals (extremely low probability of reaching $400M FDV).