The biggest trade of the century

[RedDuke]

How do you short bitcoin?

Same question

 

[traider]

Same question

Easily, use bitmex, if you are from US come up with other ways.
Profit.

 

[traider]

Last time I checked it was really cheap to short bitcoin in futures carry so it's really easy.

 

[traider]

BTW, I could say that my trade is a trade of the century, since I paid less than $0 for a few SPX options setups that are now worth $100K+ in total. Can't show the specific details, but here is is how it currently looks in general:

View attachment 220852

(not sure whether I can fully cash out due to limited liquidity)

Why SPX options and not SPY?

 

[guru]

Why SPX options and not SPY?

SPX has wider spreads (per trade but smaller per $value), smaller commissions, less slippage, longer hours, more opportunities, and better taxation. I’d have to trade 1000 SPY option combos and possibly receive -$0.01 credit each which would be expensive after commissions, while on SPX I can trade 100 equivalent combos and take -$0.10 credit each, which leaves me with $0.05 or better credit after commissions - that’s theoretical profit if nothing happens, while it can swing up and down during large market swings. And not many people buy or sell 1000 options on SPY, while there may be hedge funds that buy 100 SPX options in an instant. They don’t trade SPY options for the same reasons.

 

[RedDuke]

Last time I checked it was really cheap to short bitcoin in futures carry so it's really easy.

I heard margin in bitcoin futures is huge like 200k per contract.

 

[traider]

I heard margin in bitcoin futures is huge like 200k per contract.

Use Bitmex it's cheap as hell. But you need to have collateral in BTC

 

[eternaldelight]

I went long at around 8710 on February the 28th but my position size is a drop in the bucket compared to yours. I plan to hold for quite awhile. Let's see how the cookie crumbles. What's your reasoning behind your position? It's fine if you don't want to share it but I thought I'd ask since for some reason no one else has. If I were in your position I would cash out now.

@RedDuke the CME's maintenance margins for their BTC futures contracts are around 14,000-15,000 I believe

 

[themickey]

I plan to hold for quite awhile. Let's see how the cookie crumbles......
.....If I were in your position I would cash out now....

WTF?

 

[eternaldelight]

WTF?

? I’m long, he’s short.