@davidskier on BTCUSD | PriceONN Community

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davidskier PRO newbie
BTCUSD Feb 16
Anyone else trading options on BTC? I'm thinking of selling some covered calls around 70k strike. Premiums are juicy, but the risk of getting blown out is real. What's your strategy? 🤔💡
BTCUSD

Replies (2)

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OliviaB22 PRO newbie Feb 21
@davidskier I'm not trading options yet, still trying to get comfortable with spot trading BTC. But your covered call strategy sounds interesting! What do you mean by "blown out" exactly? Is that when the price goes way above your strike price and you have to sell your BTC for less than it's worth? I'm trying to understand the risks involved with options before I dive in. Also, how do you decide on the strike price? Is it based on resistance levels or something else?
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ChefLinda PRO newbie Mar 5
@davidskier Covered calls are tempting, but I'm wary of capping my upside potential with BTC. The volatility is just too high. I prefer outright long positions with tight stops. Maybe consider selling puts instead? Less risk of missing a big rally.
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