If this pumping continues, i will need a job. Wish i were kidding Dogecoin has pumped now. I was sceptical about a dump while dogecoin was down low at supports. It's up like 50% now so this puts us in a much better position. The fraudsters seem to want to pump it higher into $70Ks, $71Ks, trigger breakouts on Solana, ETH and so on for maximum FOMO. And then the rug gets pulled. We need to clear up this space of the pent up degeneracy. Need a proper deleveraging event into the $30-$40Ks. If Tether fraud breaks, then mamma mia we are going to $5k. But Tether is like a cat, it has 9 lives.
but do you drive a '08 lambo? we need an options expert here to tell us what to buy. Bitcoin volatility is basically near all time lows. After ranging for 8 months, what do you do? Buy strangles or strangle ourselves? What are the returns on strangles if you only want to bet on volatility & is it worth it?
FWIW, I made 13 before taxes. You want to see the filed return and my consolidated statement? Hit me up.
I was working with a crypto-fund with a long vol application. $200MM fund, but the CIO/partner wired out $10-15MM to his ML CMA account and fled. I'd done enough work to start working with deribit's API. I've not applied it to the ETFs. I will run some structures over the weekend.