wtf are you talking about, options expert waxy??? I'm talking about price of ibit Sept 52 puts currently $6.5 will be worth >$18 if your $69k/btc hits
Yeah I just ran the numbers! I will do atm now. If I purchase the Sep19 53 put @ 6.85, if btc drops to 69k by expiry, that would have IBIT at about 45 so put would be $8. I would make about 10k lol....big whoop for risking 68k????
$39/share on ibit, intrinsic value of $14, if you hit it within a few months and time value to go, could be worth $18, You did say a few months right? and >250% roi within a few months is not good enough for you, lol
Yeah but that's not enough payoff for 68k risk...I just closed my call for a 1:1.2 risk reward...and that is return on capital...return on risk would be 1:2.3
It's more than enough payoff if you're very very very sure of $68k/btc within a few months, you're not going to get 250% roi at the bank or even being a loan shark at a Las Vegas casino
Not even close to being enough because of the amount of capital you are putting at risk. For risking 68k I would need at least a 2 year leap in the right circumstances so time decay would be flatter if I need to get out...ie avoid a theta dump.
I have waxy on ignore so can't see his posts, and although its easy to just click on "show ignored content", it makes me so much happier just to piece it together from your replies! The interesting thing is that I also see the guy from the TFTC podcast also actively short Bitcoin. He's of course a permaball and one of the good guys, but isn't scared to actively trade it. I wouldn't knock anyone for shorting it, but the risk of the omega candle you can't ignore. For me all I do is exit long positions and then hope to scale back in lower, but that is with less than 10% of what I have invested, so the biggest risk is just missing massive upside if I take profits too early and don't get a chance to reload, and I'm probably not even outperforming buy and hold... LOL