  Report presents analysis of empirical distribution of future returns of
bitcoin (BTC) from BTUSD inverse option prices. Logistic pdf is chosen as
underlying distribution to fit option prices. The result is satisfactory and
suggests that these prices can be described with just three or even one
parameter. Fitted Logistic pdf matches forward price movements upto a scaling
factor. Nevertheless, this observation stands alone and does not allow
stochastic description of underlying prices with logistic pdf in similar
fashion as it is done within Black-Scholes modelling framework. Put-call parity
relationship is derived connecting prices of vanilla inverse options and
futures.
