QCP Capital: A large number of put options sold after the non-agricultural announcement

On September 7th, QCP Capital issued a statement on the official channel saying that after the non-farm payroll data was released yesterday, the initial reaction of the market was positive, which promoted the rise of risk assets. But as the market began to digest the expectation of a 50 basis point interest rate cut in September, the bullish sentiment changed sharply. After the non-farm payroll data was released, the market expected a 50 basis point interest rate cut probability of 55%. But as of this morning, the market expected a 25 basis point interest rate cut probability rose to 70%, and the probability of a 50 basis point interest rate cut fell back to 30%.
Even as cryptocurrencies moved lower, the options market was relatively calm. We even saw a large sell-off of put options throughout the trading session. We observed that front-end volatility was declining as spot prices consolidated over the weekend.