The current price movement of SOL is characterized by fluctuations around the $170 mark, which is considered a key point for negative gamma concentration. Market participants are eagerly anticipating the launch of a pure spot ETF, which could lead to a convergence of volatility, helping SOL's price form a stable rise channel.

In the current market situation, investors may consider adopting strategies with different risk preferences. For investors seeking relatively stable returns, attention can be paid to the strategy of selling put options around the $160 mark. This approach can mitigate short-term downside risks to some extent while generating stable options premium income.

For investors with a higher risk tolerance who are optimistic about SOL's future performance, buying call options with a strike price of $170 may be considered. Choosing contracts that expire at the end of next month may provide more time value and reduce the risk of time decay.

Regardless of the strategy chosen, investors should closely monitor market dynamics, especially major news and events related to SOL, such as the progress of ETF approvals. At the same time, establishing a sound risk management mechanism is also a key factor in ensuring investment success.

As the cryptocurrency market continues to mature, SOL, as one of the important public chain projects, its price movement not only reflects the development of the project itself but also to a certain extent reflects the trends of the entire industry. Therefore, when formulating investment strategies for SOL, it is necessary to consider not only the technical and capital aspects but also to combine the changes in the macroeconomic environment and regulatory policies.