It's time to sell options
Opportunity
Whether it be in traditional markets or in our crazy crypto world, volatility is sky high.
While this can be scary it also represents a great opportunity. Selling options.
Options
Selling options is a strange and dangerous world that will take years to master so my first bit of advice is START SMALL.
Here's an example of a safe trade that you can make, if you already own btc or eth.
Let's say you have 1 btc. With 0.8 btc safe in storage, put 0.2 on deribit(referral link), you then sell 1 call option at a $8,000 strike price. This will earn you $50 for the next 10 days.
How it works, if the price goes down, you make the $50 and your 1btc goes down in value like it would of if you didn't sell the option. You have $50 more than you would of.s
If the price goes up, your btc goes up in value but after the $8,000 strike price is hit your option starts to lose you money, this loss is equal to any gain over the 8k point. Basically you will make money up to the 8k point and no more after that. Plus you $50.
I am happy with not making money after 8k because I would plan on sell btc if it goes up that fast and rebuy when it retracts, so selling the option just makes me $50 as my profit loss would be the same without it.
If this is liked I will post other option trading strategies
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My favorite site for trading is Bitmex, as the future contracts allow for lots of arbitrage opportunities and the leverage lets me leave most of my stash safe in cold storage. If you don't already use it and would like to sign up, here is a referral link that will get you 10% off fees and rewards me with 10% of the fees you pay, we both win.
Similarly my favorite site for trading options is Deribit, Here is a referral link for that.
A couple of exchange sites I also use are binance and hitbtc, I find them about as good as the other exchanges to be honest but these have referral links so I figure I'd shill for them.
More posts
If you like this post there will be more like it on my posts page, this account will be dedicated to posting about trading cryptocurrencies and maybe a bit of general stock markets.
If that sounds good please consider up voting, following or resteeming. If you are feeling particularly wild you could do all 3.
Disclaimer
Please do not invest on the advice of a stranger on the internet, only use this advice here as a starting point for your own research, and then if you choose to invest please only invest an amount that you can afford to lose.
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