10x Research recommends selling out-of-the-money (OTM) calls and puts associated with Bitcoin, while holding the cryptocurrency in the cash market. In addition to the upside held by the cash market, the so-called "covered wide-span strategy" will yield a 17% yield. 10x Research says BTC investors looking to earn additional income in addition to their cash market holdings should consider developing a "covered wide-span" option strategy.
Markus Thielen, founder of 10x Research, said, Our favorite strategy is to buy Bitcoin spot, sell 100,000 exercise calls, and sell 50,000 exercise puts that expire in December 2024. Selling calls yields 11% and selling puts yields 6%. Therefore, this strategy provides us with a downside buffer of 17% or an additional yield of 17%, depending on the December BTC closing price, and we will capture all the upside (or downside) of Bitcoin.
10X Research: Proposed to sell out-of-the-money calls and puts related to Bitcoin while holding cryptocurrency in the cash market
2024-05-20 06:46:08
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