BTC - Long around 80k after resolution of BTC Futures Volume gap

19시간 전

I closed by BTC position (which was infact call spreads on BITO) at 107k and haven't touched it. I don't like to short in general and bitcoin can be very tricky.

I am interested in BTC at around 80k after the resolution of the BTC Futures Volume Gap and the mitigation of short interest present at former all time highs etc.

If volatility has spiked aggressively I may look to enter into a credit put spread and use that to finance OTM calls at longer expirations, I will do that all on IBIT.

On a paper trade I setup a few days ago I have OTM 45 puts on the February 21 contract on IBIT. I didn't actually take the trade as I've been busy managing QQQ and NVDA positions, but it would have served the basis of a multi leg low risk synthetic call if I had.

The open papertrade on Optionstrat is linked below. It was planned but I didn't take it because I got distracted by other things like watching 50% of my unrealized profit on NVDA vaporize because of a stupid mistake I made when hedging.

optionstrat.com/5VsEsiU5Njzw

19시간 전

노트

I should note that my BTC position ran from 63k to 107k.

19시간 전

노트

Also worth noting that this doesn't have to happen. Large lot BTC traders are notoriously trappy, they like to setup false breakdowns and scope up liquidity, one of the reasons I generally don't try to short BTC.

However, if this DOES happen, this would be the plan based on the areas of interest on the chart.