Interesting BTC volatility smile curve, looking at the one due at the end of June, the curve is very steep, with a bullish IV higher than a bearish IV; At the end of the year, the data was much smoother, and the bearish IV was slightly higher than the bullish; =The market is bullish in the short term, but tends to be conservative in the long term. If you are bullish on BTC in the long term, the current recommendation is to buy forward call options, which will be more cost-effective. Buy call options for year-end 11.5w or 12w, with more than three times leverage, without the need to replenish positions or worry about liquidation, and the cost is not high.