[Daily Discussion] - Tuesday, September 07, 2021 Bitcoin Markets |
- [Daily Discussion] - Tuesday, September 07, 2021
- Is Decentralization the future of the Internet?
- Bukele. The president WHO WARNED about the Bitcoin Crash hours in ADVANCE.
- Option trade idea : sell Bitcoin 50k Covered Call 29 Oct 2021 Expiry
- Guaranteed Pump on 7th?
| [Daily Discussion] - Tuesday, September 07, 2021 Posted: 06 Sep 2021 09:00 PM PDT Thread topics include, but are not limited to:
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| Is Decentralization the future of the Internet? Posted: 07 Sep 2021 04:44 AM PDT |
| Bukele. The president WHO WARNED about the Bitcoin Crash hours in ADVANCE. Posted: 07 Sep 2021 09:32 AM PDT he warned in advance!! https://twitter.com/AMoneyfest/status/1435278773344157705 https://twitter.com/AMoneyfest/status/1435279127565717510 Big sell signal! to frame them as losers! [link] [comments]  |
| Option trade idea : sell Bitcoin 50k Covered Call 29 Oct 2021 Expiry Posted: 06 Sep 2021 03:13 PM PDT Rationale behind Bitcoin 50k Covered Call 29 Oct 2021 Expiry Trade At time of writing BTC is trading @ 52k. I'm currently long 0.17 BTC (~$8.6k). Long term I am bullish on bitcoin and crypto in general. However, for the medium term (end of october) my feeling is that BTC is struggling to push through the 52k resistance level. Even if we do break out I don't see us going any higher than the next 56k resistance level by the end of october. In fact, I think crypto will undergo some regulatory scrutiny during that period which will trigger a pull back to 45k maybe even 40k level. So my problem is how do I protect my long position in case of a pull back while also capturing some of the upside? Let's consider the following scenario if I do nothing and keep my position as is (I did some rounding for ease of reading) based on my current position 0.17 BTC (~$8.6k) BTC SPOT TRADING @ 52k = $8.6k BTC SPOT TRADING @ 55k = $8.6k + $0.4k = $9k BTC SPOT TRADING @ 60k = $8.6 + $1.4k = $10k BTC SPOT TRADING @ 45k = $8.6k - $2k = $6.6k BTC SPOT TRADING @ 40k = $8.6k - $1.2k = $7.4k As we can see if the market rallies I capture some upside but I have a fair amount of downside risk as well. Now let's consider selling 0.5 x 50k Call 29 Oct 2021 Expiry all things being equal (i.e. no change in volatility) BTC SPOT TRADING @ spot 52k : pnl today 0 / pnl expiry $8.6k + $3k = 11.6k BTC SPOT TRADING @ spot 55k : pnl today +$0.2k / pnl expiry $8.6k + $2.4k = 12k BTC SPOT TRADING @ spot 60k : pnl today -$0.8k / pnl expiry $8.6k + $1k = $9.6k BTC SPOT TRADING @ spot 45k : pnl today +$0.2k / pnl expiry $8.6k + $2.4k = $12k BTC SPOT TRADING @ spot 40k : pnl today 0 / pnl expiry $8.6k + $1k = $9.6k Best case scenario BTC stays within the 45k / 55k range and my profit is $2.4k. Even if we go much higher I would only start losing money if we go above 64k by the end of october. Likewise if we go much lower I would only start losing money if we got below 34k in that time period. Thoughts? [link] [comments]  |
| Posted: 06 Sep 2021 01:51 PM PDT In honor of El Salvador adoption, half of Bitcoin Twitter already had declared that they'll be buying $30 worth of BTC on the 7th as well. However today the stakes seem to have gone up a bit: https://twitter.com/TheRealTahinis/status/1434883736840151043 If you look through that thread lots of people are declaring that they'll be buying every hour on the hour, and some in quantities up to $300 hourly. Of course this is spread across lots of exchanges, but El Salvador is buying too: https://twitter.com/nayibbukele/status/1434968475928248331 - This could be quite a pump! [link] [comments]  |
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