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Bito

Trading Idea: BITO September 16th 2 x 19/25 Call RatioI'm not quite ready to pull the trigger on this setup, as I'm waiting for support at around 22 to present itself (at which time the strikes of this setup would naturally have to be adjusted lower). However, I wanted to price it out here just to look at buying power effect. To set up this trade, I'd be buying 2 x the 75 delta calls (for 150 long delta) and selling the 50 delta call, resulting in a setup that is around net delta 100 long and with a break even at or around where the underlying is currently trading. Current Metrics: Max Loss/Buying Power Effect: 10.13 ($1013) Max Profit: Theoretically Infinite Break Even: 24.07 vs. 24.02 spot (as of Friday close) Delta/Theta: -.67/97.30 Doing things this way allows me to basically take the equivalent of a one lot position in BITO for far less than I would if I bought the stock outright and for less than half the cost (and risk).
AMEX:BITOLong
by NaughtyPines
1
The Week Ahead: XBI, ARKF, ARKG, BITO, ARKK, KWEB, IWM/RUTEarnings: TSLA (63/69). Announces on Wednesday after market close, so if you're looking to play the volatility contraction, look to put on a play in the waning hours of Wednesday's session or, if implied volatility afterglow persists, early Thursday after it has made its move. If NFLX earnings is any indication of whether TSLA will "behave," you may want to consider waiting until after the announcement to avoid a repeat of "the Netflix experience." As it is, the January 28th options are pricing in something bigly: +/- $82 or so, so 862 on the put side, 1026. Exchange-Traded Funds Screened for Rank >70%/30-Day >35%, Implied Volatility Rank Ordered: Cathie Woods' funds continue to have a really bad hair day/week/month ... . XBI (100/48) ARKF (97/59) ARKG (87/66) BITO (82/85) ARKK (82/62) KWEB (74/58) EWZ (51/40) Pictured here is a bullish assumption BITO March 18th 17 short put, paying .60 at the mid price on buying power of 16.40. The broker is still requiring it to be cash-secured, so the ROC %-age is not all that sexy: 3.7% at max (25.0% annualized) as a function of buying power effect. Because of that, I would consider slapping on a cheap put to bring in the buying power effect, but the best you can currently do is to buy the 13, making it into a four-wide paying .38, and that amount isn't particularly compelling, particularly if you're going to be taking profit at 50% max. The ROC %-age is way better (9.5% at max), but I'd rather look at a setup where the long leg costs something like .05-.10, so I may stick a pin in that trade; lower strikes may populate at some point. Broad Market Exchange-Traded Funds, Implied Volatility Rank Ordered: QQQ (77/33) IWM (77/35) SPY (73/28) DIA (72/26) EFA (65/23) In the retirement account, I'll basically continue to ladder out short put as long as IVR/IV remains elevated. This is the exact environment in which I like to make additions on the put side: weakness plus increased implied volatility. Naturally, one begets the other. I'll also be keeping an eye on net portfolio delta to see if additional short delta hedge is required to keep me from getting overly directional which can make things more uncomfortable in a protracted down turn. I point this out because what people primarily see in my feed is "short put, short put, short put" and not the short delta hedges put on that are just kind of running in the background. There is individual trade delta, but also portfolio-wide delta.
AMEX:BITO
by NaughtyPines
BTC - Minor Consolidation into the DropBitcoin will need to break up and out of the descending channel in order for a reversal. BTC has been well correlated to 10Yr Note Yields, it no longer is performing to the prior Analogue. Traders are closely watching $42K, the Gap could fill @ 32,600 into February or March - Although the CLoud appears supportive until January 31, thereafter Price may begin to decline once again. It will be a process of grinding up Distribution after the Failure to close over our Price objective $69,000. With changes coming to Regulation in 2022 it will most certainly be an interesting year ahead for BTC. A Panic of sorts may be underlying the Trade over the next few months, the chart structure on Lnnger duration timeframes is weakening. ______________________________________________________________________ BTC would need to close over 50,635 in order to revere the Downtrend.
CME:BTC1!
by HK_L61
Closed: BITO January 21st 25/44 Short Strangle... for an .80 debit. Comments: Filed this for a 1.60 credit (See Post Below; out here via good-until-cancelled order to take profit at 50% max. .80/$80 profit. 3.3% ROC as a function of buying power effect. Although implied volatility has contracted a bit, will consider re-upping in the February cycle after New Year's, assuming the strikes above 40 get populated. Currently, the February 18th 40 short call is the highest available strike, with a delta of .29.
AMEX:BITO
by NaughtyPines
Opening (Margin): BITO January 21st 25/44 Short Strangle... for a 1.59 credit. Comments: Selling ~16 delta premium in high implied BITO (30-day at 82%). Unfortunately, because the broker's basically requiring that this particular underlying be cash-secured, the ROC isn't very sexy as a function of buying power effect: $159 credit on a buying power effect of $2416 or 6.6% at max/3.3% at 50% max. In any event, will look to take profit at 50% max; manage sides on approaching worthless or side test.
AMEX:BITO
by NaughtyPines
4
Is BITO Finding Its footing?BITO, a Proshares ETF strategy for Bitcoin futures, has filled the gap created on the daily chart at around $40. I'm interested in taking a position in this instrument but had my doubts when I saw the bearish engulfing candle on the daily created back on 11/10/21. The crypto bulls really don't like BITO because the fund doesn't hold any actual Bitcoin, but rather values on the future price movements of Bitcoin. BTC/USD seems to be on a fairly strong uptrend, but as we all know BTC can turn on a dime. BITO has good daily volume (over 9 millions shares daily). If it can clear $44.28 and hold, I will look to go long.
AMEX:BITOLong
by lancer5599
CRYPTO ETF - THE ESCAPE ROUTE FOR PROFIT??AMEX:BITO I'm not a fundamentally based trader, however, there are times where a theoretical story seems likely to supplement the technical analysis side of the (bit)coin. Technically: Most IPOs are pretty obvious as to what is support and resistance are after a few days of trading. Therefore, mapping out potential levels in the future become easier - especially if happens to align with large round numbers. The areas shaded are in my opinion the ONLY places I would pay attention to. Fundamentally: Bitcoin is at HI's again, and crypto is prevalent in the news with the launch of its first ETF (paving way for others). If anyone is looking to get out of bitcoin near its all-time HI, double top, then we need buyers. These ETFs are providing the liquidity for the sellers aka the escape artists to profit from the buyers and new players into the crypto world. We may see absorption of this buying (temporarily?) before we see bitcoin, crypto, and BITO ETF suffer some. Small moves in the grand scheme of things where you can still profit. Just an idea....
AMEX:BITOShort
by ProSTrades
Canadians trade Bitcoin within RRSP? Bull and Bear?Looks like all the Canadians stuck with toxic dollar=based high priced equity can buy in fake Bitcoin via ETF. Complete junk but highly tradable. For Bitcoin when the Bull is running (like now), BUY HBIT When the bear returns, switch to cash-is-trash or BITI to go bear on Bitcoin. Use the leverage. On this trading style we will be fairly agreesive since we prefer to be in cash since the legacy markets run on obsolete banksters hours and systems. Move to the new world of internet money. The truth. And until there is a true physically based backed Bitcoin ETF, trade this ETF scams. Heck a lot better than any mutual funds. THIS IS NOT FINANCIAL ADVICE - TRUST YOURSELF - VERIFY EVERTHING ELSE.
HLong
by UnknownUnicorn2413721
"Wall Street Bitcoin" Lovely baby chart on the 15minWell, as someone who is extremely critical of toxic Wall Street Instruments. I am impressed with this "futures" BS "Bitcoin-link" instrument of mass destruction. Fortunately, Bitcoin, unlike manipulated gold and silver commodity markets, is a world-wide, distributed and battle hard spaceship. Gifted to us by the gods not though gold but though MATH AND TRUTH! And the charts over today's first trading day on crook street (banksters hours) shows a lovely 15 min period chart ending with a warm bullish engulfing candle. Warms my heart. Enjoy the ride people. Trust yourself first. And verify the rest! Notes: First date trading: $40.88 OPEN 24.284M VOLUME BITO is NOT an investment because it's decays with futures contract roll overs. Great swing trade position. As we break 65K, BLUE SKY BREAKOUTS to .... (TBC)
AMEX:BITOLong
by UnknownUnicorn2413721
Breaking through WEEKLY Moving average 50This is so exciting my friends, this is the first time ever since MAY 2018 that the price is above weekly moving average 50. Does it mean that another big bang in #Bitcoin #btc is going to happen this year? :) To be honest I am getting ready for a $80000 Bitcoin this year. You can find out more about this in my previous ideas, so feel free to check those and give me your comments. Please let me know about your idea about this break out in the comments. Thank you and good Luck.
BITFINEX:BTCUSDLong
by taktip
2