How does a hedged Bitcoin ETF balance downside protection with upside potential? Mark Longo sits down with Mark Adams, co-founder and CIO of Fortuna Funds, to unpack HBTC's approach using IBIT options.

We explore protective puts, call spreads and an "uncapped collar"—including where the strategy can lag Bitcoin and how its monthly hedges work.

Plus, Bitcoin drops below $80,000 during the show as we break down options activity in IBIT, MSTR, ETHA, BMNR and Circle, along with the latest moves in Ethereum, HYPE, Solana and XRP.

What happens when Nvidia options meet the world of 24/7 crypto trading? Mark Longo welcomes Jake Sylvestre, founder of Hypercall, to explore the on-chain options exchange built on Hyperliquid—and its push to bring round-the-clock trading to equity and crypto derivatives.

Jake explains how perpetual futures support delta hedging, why market makers are entering the space, and how Hypercall's liquidity and spreads compare with traditional options markets. They also discuss daily expirations, potential weekend expirations, and the challenges of pricing options through earnings and overnight events.

Then we break down the latest Bitcoin, Ethereum and altcoin action, including:
• Bitcoin options activity in IBIT and an opening vertical spread in MSTR.
• Ethereum volatility and the adjusted-options confusion following ETHA's reverse split.
• Downside positioning in BMNR and longer-dated calls in Circle.
• The pullback in HYPE and PURR, plus shifting options volume.
• Updates on Solana, XRP, Dogecoin, Litecoin and more.

The crypto pullback is spreading, but the options market still has plenty to say. On this episode, we break down the latest moves in Bitcoin, Ethereum and Hyperliquid's HYPE token, along with notable options trades in IBIT, MSTR and PURR.

We explore a sizable IBIT call spread, the latest PURR activity as HYPE retreats, and how ETHA's reverse stock split complicates its options chain. We also check in on BitMine, Circle, Solana, XRP, Dogecoin and other major altcoins before taking a quick look at Fetch.ai (FET) and the intersection of artificial intelligence and crypto.

Hyperliquid stands out in a subdued crypto market as traders weigh its rebound against cooling volatility and lighter options activity.

Mark Longo breaks down Bitcoin and Ethereum price action, declining implied volatility in IBIT and ETHA, and the latest options flow in Strategy (MSTR), BitMine (BMNR) and Circle. He also examines Hyperliquid's HYPE token, an active November call trade in its associated treasury stock, and whether listeners would buy or sell those calls.

Plus, get updates on Solana, Sol Strategies, XRP, Dogecoin, Litecoin and more in this market-focused edition of The Crypto Rundown.

Bitcoin pulled back after a midweek rally, while Solana held on to much of its recent gains. Mark Longo breaks down the latest crypto options activity in IBIT, MSTR, ETHA, BMNR and PURR, including a sharp drop in MSTR volatility and an unusually long dated PURR call trade.
Plus, a look at Circle's continued slide, renewed interest in Litecoin, and the listener poll asking which crypto asset you'd hold through year end.

Crypto markets are roaring back, and some of their riskiest corners are suddenly delivering eye-catching returns. Mark Longo welcomes back Bill Ulivieri of Cenacle Capital Management to examine Bitcoin's breakout, renewed crypto options activity and whether capital may be rotating from AI into digital assets.

They explore IBIT, MSTR, MSTU, Ethereum, BMNR, Circle, HYPE, PURR and Solana, along with two highly speculative names: STKE and Gemini Space Station. Bill also discusses options premium strategies, crypto yield opportunities, tokenized securities, regulatory developments and his outlook for the next crypto cycle.

Bill Ulivieri of Cenacle Capital Management returns to The Crypto Rundown — and after calling the Bitcoin bottom on his last appearance, he's feeling even more bullish about what comes next.

Mark Longo and Bill explore why Bitcoin could be sitting on a "coiled spring of energy," the latest action in IBIT and MSTR options, and whether Strategy still has more room to run. They also dig into the outlook for Ethereum, Solana and XRP, the surprising rise of Zcash, and the latest activity in ETHA, BMNR, Circle and PURR.

Plus, Bill explains why the convergence of crypto, blockchain and agentic AI could dramatically reshape trading, and highlights Arbitrum and Uniswap as two names worth watching as Robinhood pushes deeper into blockchain and DeFi.

Was this the greatest week in crypto history?

On this episode of The Crypto Rundown, host Mark Longo is joined by Pat Wood, President and CEO of DelphX Capital Markets, to break down an explosive week across the cryptocurrency markets.

Bitcoin comes roaring back with a massive rally and surging ETF inflows, while activity and volatility heat up in IBIT and MSTR. We examine what the move means for Bitcoin traders, whether this rally has staying power, and why Pat believes the next generation of digital asset treasuries needs to think beyond simply buying and holding.

Then we venture into the Altcoin Universe, where the rally is spreading fast. Ethereum finally wakes up, Solana shows signs of life, XRP surges, and HYPE/Hyperliquid continues to generate serious buzz. We also examine the wild options activity in ETHA, BMNR, Circle (CRCL), and PUR, including the rush for upside exposure as crypto traders embrace the rally.

Plus, we discuss:

• Bitcoin's monster weekly rally and whether it can continue
• The resurgence in IBIT options volume and volatility
• MSTR, Michael Saylor and the future of digital asset treasury strategies
• Using covered calls and collars in crypto
• Ethereum's dramatic comeback
• The latest action in Solana, XRP, Dogecoin and other altcoins
• The growing excitement surrounding Hyperliquid and HYPE
• Why crypto market structure may be entering a new phase