Dusting off my LEAPs again...

[The_Krakenite]

On Friday I decided to take advantage of the little pull-back, (people didn't like the SEC postponing BTC ETFs). I don't think they will be able to hold back BlackRock forever.

After doing some more research, and checking what's available for a good risk/reward, I decided to go with WULF. I don't want to go too overboard now. The thing that worries me is Tether is basically CDOs cubed at this point and there is no clear estimate as to when that fraud blows up.

A stupid thing on my part, I misclicked on something in IBKR, and a little glitch made it annoying as I was trying to slowly tick down to get a fill. I then started jumping across the spread and got a fill quite lower than I should have. A reminder to me that even one penny difference when trading around 20 contracts or so adds up to big bucks fast. Too many of these impatient mistakes are costly in the long run.

I will be sure to do some further analysis on TeraWulf as this progresses.

 

[The_Krakenite]

Friday Sep. 8

A sea of red again in regard to BTC Miners today. I decided to take another small nip at something. I'm trying hard not to over-play here. I also tried to get some fills on non-related equities (for diversification) but didn't get them at the prices I was willing. I also tried to see if I could close my RealReal short-PUTs for a penny, but no bites either. I'm somewhat ok with that, as in a way I don't mind getting assigned TheRealReal. Especially since Dr. Burry likes it too.

Later on today I will do a deeper dive into Bit Digital's earnings reports.

So far, I'm not sure I want to be doing many trades on these miners post-halving. I am really beginning to align these with what Buffett refers to as Airline stocks. They are just too capital-intensive, and have too much competition to be profitable long-term. The same goes for automobile companies.

 

[traider]

I LIKE IT

 

[The_Krakenite]

Time for an update... it's been a while. My only MET futures contract for this year finally expired. Looks like I made over a buck in profits. And by that, I simply mean over 99-cents (literally).

Next phase, I want to experiment with my first ever Futures-Option. I'll dig around the CME Group some more later tonight if I can get some time.

The below shot is a few days old now, after expiry: And I still expect all the PUTs to be out of the money by March/April.

Despite we've had multiple Ethereum Futures ETFs released all on the same day lately, that didn't seem to give the markets the PUSH I had anticipated. In any case, I am not so sure I'll trade them. The only futures for me in the near future will be through CME Group. (no pun intended)

 

[The_Krakenite]

Sun Oct 8, 2023

Oh dear, looks like we now have a war on the second front now. Thought it would be in the Pacific theatre for sure, but looks like Israel now.

One minute after I got home today while watching the progress... I received a notice that a limit-order got filled. My first ever 'Futures Option'. I think going forward, I will avoid putting in these limit orders during the weekends. That's risky.

 

[traider]

Sun Oct 8, 2023

Oh dear, looks like we now have a war on the second front now. Thought it would be in the Pacific theatre for sure, but looks like Israel now.

One minute after I got home today while watching the progress... I received a notice that a limit-order got filled. My first ever 'Futures Option'. I think going forward, I will avoid putting in these limit orders during the weekends. That's risky.

View attachment 324702

What's the underlying?

 

[The_Krakenite]

@traider MET = Micro-Ether Futures

As for today, it's Expiration Friday for my 17 short-PUTs on The RealReal. Looks like I avoided assignment, but I wouldn't have minded really if I did get hit. Now I really wish I had shorted more PUTs, but that's how it goes. To be fair, I originally DID try to short more contracts when I did the trade, but could only get 17 contracts filled at the time. I'm still happy with half a thousand bucks, to make up for my deprecating long CALLs on HIVE, lol.

MicroStrategy was (and is currently) amazing for shorting a PUT, and I only wish I had levered up big there. But... that's how it goes. The sad part, is I only purchased two shares of it many months ago in a registered account. At least I had timed the bottom there.

And obviously, I wish I had quintupled (or more) on my 100 long-CALLs on Bitcoin ETFs, but my crystal ball always fails me at the worst times... Still, up under 20K overall for a few months of sitting on my ass, and that's not including my expired Sonos short-puts.

I don't plan any more action (just holding positions) for this year, the next thing that will PROBABLY expire out-the-money is my first ever Futures on Options (Ethereum). It's not worth much, but a fun learning experiment.

Now for the weekend, I'll have to update the adjusted cost base records for that pesky tax-man that always comes around the end of April. Grrrrrrr.

 

[The_Krakenite]

So it's official. My first-ever Options-on-Futures trade has settled today (expired). I also went on a one last time buying spree today to purchase some equity. A round lot in SVV, and 5-round lots in XRE. I didn't want to, but I fear that the market may very well have seen the last of increasing interest rates.

 

[The_Krakenite]

Jan 4...

So, we are NOW into 2024!

Bitcoin is owning dominance by over 50%, and Ethereum seems to be undervalued as sheeple are moving into the dominant. I was thinking on doing some arbitraging pairs-trade like a hedge fund, but since I'm bullish on both, decide I'll still stick with directional trading (for now).
Vol on Ethereum ETFs is higher than Bitcoin, so there is where I decided to strike (Strike, get it?? Options joke). Ummm...

Shorted 4 PUTs on ETHH.B, raising almost enough cash to purchase a round-lot of XRE (Blackrock's REIT ETF) to add to my stack of growing REIT equities.

I don't want to get TOO greedy here though. At least some other puts should roll off starting in February. Looks like all the ducks are still lining up (a little too well). Will try to keep my hubris in check....

Love these over-sold ETFs when you can find them. Thanks iShares!

 

[traider]

your positions so tiny for a pro trader