CBOE will definitely eventually offer options. Ledger X is offering options right now but you have to pretty much be a big fish,hedge fund, etc. Pretty cool firm/ exchange
Implied volatility for Bitcoin options must be higher than the height (or depths) of the financial crisis, So even if options existed right now...you'd have to take on some serious risks and assume some serious moves. Bitcoin is a long shot right now -- there are other ways to make money in the market, besides betting/trading this wildcard joker entity.
As long as you don't end up with a short put imbalance, you could do quite well with this (and, actually this isn't a problem now that there's a futures contract). It's pretty straight forward how to hedge this, especially with a continuously traded asset. The premiums in play would be astronomical, and the spreads ample to justify the risk.
Because you can't short BTC to hedge the puts. Which is why the futures mitigates this...but I sure wouldn't want to hold the bag while futures markets are closed.
You got me there. You just don't have the mindset to play small. If you can't "play big," you are not interested. My expectation are lower than yours.