Still as expected. NASDAQ:MSTR is a bit of a leveraged play... $BITO (so far) is still working out as the most pure spot play... and $GBTC yeah... there's Grayscale always in the news with the 40-50% sale. LOL Can you stomach the potential risk/reward of GBTC? Are we still using it as an informal technical indicator for coin movement? In my opinion, BITO is...
BITO 15.40 and 13.20 When rising to the selling resistance line position, there is a possibility of further collapse due to the absence of the lower support line
Fed meeting next week, rut ruh... Bought a few OTM BITO puts for next week, just a small play
Freakin' hilarious, BTC has been the best indicator of market top and bottom this week. Flipped puts yesterday at support and bought GM calls, flipped my calls on open and bought BITO puts at the resistance. I have no idea if it breaks support or cycles back up next week, but holding those BITO puts for kicks and giggles. I plan to flip my puts Tuesday if it...
Last couple of days I used BTC as an indicator to buy or sell as it hit support and resistance. This NQ overlay on top of BTC makes me wonder if it is now tracking the market, with a tendency to overshoot the selloffs. Still trying to figure out BTC, I made money because of it this week, so I'll keep an eye on it. I have to anyways because I left open some BITO...
... for a 6.00 debit. Comments: Collected a total of 5.01 for this. (See Post Below). Closing it out here as less of a loser (.99/$99) than it was previously.
... for a .63 credit. Comments: Rolling out with 28 days to go, but adjusting strikes slightly to delta neutral, since there wasn't a ton of difference in credit between rolling out "as is" versus delta balancing. Total credits collected of 5.01 on a 5 wide inverted. The setup is currently marking at 6.46 relative to my cost basis of 5.01, so it's underwater...
... for a .79 credit. Comments: Not much I can do with this here besides roll out as is, reduce cost basis further. Total credits collected of 4.38 on a five-wide inverted.
... for a 1.13 credit. Comments: Inverting my short strangle further ... . Total credits collected of 3.59 on a 5 wide inverted (12C/17P).
... for an .89 credit. Comments: Just rolling "as is" here about half way through the cycle to reduce cost basis further. Total credits collected of 2.46 on a 1-wide inverted (i.e., I can invert a smidge further to a two-wide if I don't get a bounce).
... for a .64 credit. Comments: The slippage sub-18 was somewhat rapid, so I'm probably got in here a little late to defend my July 15th 17 short put, but something is better than nothing. Total credits collected of 1.57 on a one-wide inverted.
... for a .45 credit. Comments: Too many trades, not enough time ... . Rolled this out on Friday for a .45 credit. Total credits collected: .48 (See Post Below) plus the .45 here for a total of .93. The original setup was a spread with the long leg at the 11. It has gone no bid, so I'm leaving it behind as a lotto trade.
anyone ever see the collapse of a pyramid scheme? if not, look no further. I am short BTC via BITO puts this 30k range is btc last support before the swift fall to 12k and then 5k i expect this to happen <3 months
... for a .48/contract credit. Comments: High IV with 30-day at 71%. Unfortunately, I don't get any relief on margin for this particularly underlying, so am buying a cheap long put to bring in buying power effect from 17.46 for the naked 18 to 6.54 for the spread. Paying .07 for the long to bring buying power effect in by >60%. ROC 7.3% at max as a function...
I'm not quite ready to pull the trigger on this setup, as I'm waiting for support at around 22 to present itself (at which time the strikes of this setup would naturally have to be adjusted lower). However, I wanted to price it out here just to look at buying power effect. To set up this trade, I'd be buying 2 x the 75 delta calls (for 150 long delta) and...
BITO on TD Ameritrade ETF for BTC! March 18 with a strike price of 24.50
Earnings: TSLA (63/69). Announces on Wednesday after market close, so if you're looking to play the volatility contraction, look to put on a play in the waning hours of Wednesday's session or, if implied volatility afterglow persists, early Thursday after it has made its move. If NFLX earnings is any indication of whether TSLA will "behave," you may want to...
... for an .82 debit. Comments: Opened this for a 1.48 credit (See Post Below). Closing it out here manually for around 45% of max. The implied has come in quite a bit; it was 76.1% when I put it on and has now contracted to 68.5% -- at the low end of its 52-week range. Will look to re-up if implied comes up off its lows.