Shorting the Crypto market

D

DallasCowboysFan

If I thought that cryptos might be facing a steep decline before the end of the year, what is the best way to play it?

Are there any option plays I can use against an ETF or something from the Comex?
 
johnarb said:
GBTC is a good proxy for btc, I believe so is MSTR

You can also short the bitcoin miners, like MARA, RIOT, HUT or the the bitcoin futures etf like BITO or BTF
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I tried shorting MSTR from TOS on Friday but apparently it's on the no borrow list, with the likes of GME and AMC and was just notified of it.
Probably just as well as BTC is surging which may reverse MSTRs downward trend.
 
VicBee said:
I tried shorting MSTR from TOS on Friday but apparently it's on the no borrow list, with the likes of GME and AMC and was just notified of it.
Probably just as well as BTC is surging which may reverse MSTRs downward trend.
More...

I saw your thread that you went to all-cash on your portfolio which meant you sold your Tesla and MSTR holdings

I guess I was not very convincing with my MSTR projections on our exchange in another thread :D

If btc can maintain to stay above $66K throughout the whole trading day tomorrow, I expect MSTR to close above $850 and possibly to hit $900 intraday


I have 5 MSTR Jan 750 Call options that cost me ~$50K (first 2 cost me a total of $31K last 3 cost me a total of $17K)

I have put my money where my mouth is as far as my opinion that MSTR will go up a lot due to bitcoin going up a lot in the next 2 months or so

If you're trying to short MSTR based on your TA, I do respect that and the market will determine who's right and who's wrong
 
VicBee said:
I tried shorting MSTR from TOS on Friday but apparently it's on the no borrow list, with the likes of GME and AMC and was just notified of it.
Probably just as well as BTC is surging which may reverse MSTRs downward trend.
More...

well. try the micro BTC futures.

but the problems are still the same;
volume is still not very high,
big offer spread is horrific.
 
johnarb said:
I saw your thread that you went to all-cash on your portfolio which meant you sold your Tesla and MSTR holdings

I guess I was not very convincing with my MSTR projections on our exchange in another thread :D

If btc can maintain to stay above $66K throughout the whole trading day tomorrow, I expect MSTR to close above $850 and possibly to hit $900 intraday


I have 5 MSTR Jan 750 Call options that cost me ~$50K (first 2 cost me a total of $31K last 3 cost me a total of $17K)

I have put my money where my mouth is as far as my opinion that MSTR will go up a lot due to bitcoin going up a lot in the next 2 months or so

If you're trying to short MSTR based on your TA, I do respect that and the market will determine who's right and who's wrong
More...
I went to cash with our 401k. Of course, 5 days into it my wife (I do love her) is asking if we made a mistake, after repeatedly voicing her end of year anxiety... we shall find out within 4 months if we or not shoulda, woulda, coulda...
In the meantime, we continue to trade with a bit of cash, having cut our available margin to intraday trading only.
We also have invested in crypto over the last couple of months and are up 30%, at this second. ;)
 
I was day trading MSTR Friday and took multiple spankings in the process until I finally gave up and ended giving back most of what I had made on Tuesday's wild ride up. No worries, MSTR makes most of the market seem dreadfully boring!

My problem is trading from Asia and the timezone difference. By 1:30 pm EST when the trend reversed up it's 1:30 am for me and I'm sleeping.
 
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