IV is insanely high. The ETF that sells calls on COIN, CONY has an insane dividend yield. Something like 7%/month I believe.
Does anyone know the formula for short call margin calculation? Does it depend on how OTM the call is?
Thou shall not short naked options anymore, now and forever, till the end of the time. It is simply not worth the risk.
Since I’m bullish on COIN and BTC right now I like to sell the weekly 430 puts. If they are assigned that’s going to put you long the stock at roughly $227.