Current price is 6600, so that call expired worthless. Selling again the 7K Apr 13 call for $140.
CC and CSP on BTC
- Thread starter Pekelo
- Start date
Current price is 6600, so that call expired worthless. Selling again the 7K Apr 13 call for $140.
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...
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so the short straddle would have been profitable? generating 1400ish?