On the eve of the Fed meeting, the options market is experiencing increasing divergence, and short-term fluctuation expectations are dropping.

[Bitpush] According to macro researcher Adam, as the Fed's Jackson Hole meeting approaches, opinions in the options market are clearly divided. Today, bullish and bearish block trading reached $1.61 billion and $1.14 billion respectively, accounting for two-thirds of the total trading volume for the day. The trading is mainly concentrated on out-of-the-money options that expire this week and this month. Meanwhile, short-term implied volatility has declined, indicating that institutional investors are not optimistic about the significant fluctuations expected from this meeting.