CC and CSP on BTC

Discussion in 'Options' started by Pekelo, Mar 18, 2018.

  1. Pekelo

    Pekelo

    Current price is 6600, so that call expired worthless. Selling again the 7K Apr 13 call for $140.
     
    #11     Apr 6, 2018
  2. Pekelo

    Pekelo

    This expired in the money, so I am not in a position right now. BTC is just above 8K, after a huge 45 minutes rally yesterday from 7K to 8K.

    This experience started out BTC at 8K, and after a month, we are back where it started. Let's see how the option seller did:

    I was in the red by 164 and kept the premium of 140, so I am pretty much break even at -$24, just like BTC, being slightly up. I probably should have used a longer than 1 week frame (3 weeks to expiry) with a much bigger premium ($700) I was bullish on bitcoin that is why I sold the 7K strike instead of the ATM 6.5K, but again, this relative huge and quick rally was very unexpected.

    So after a month BTC is very slightly ahead (up $52), mostly because this huge rally yesterday.

    Selling the 27th Apr 8K puts (CSP) for $460. BTC is at $8052...
     
    Last edited: Apr 13, 2018
    #12     Apr 13, 2018
    EliteThink likes this.
  3. so the short straddle would have been profitable? generating 1400ish?
     
    #13     Apr 13, 2018