What are the top option plays in the cryptocurrency market today?

3 answers

• Dec 16, 2021 · 3 years ago
  One of the top option plays in the cryptocurrency market today is trading Bitcoin options. With the increasing popularity of Bitcoin, options trading has become a lucrative opportunity for traders. By buying call options, traders can profit from the price increase of Bitcoin without actually owning the underlying asset. This strategy allows for potential high returns while minimizing the risk associated with holding Bitcoin. However, it is important to note that options trading involves risks and it is advisable to do thorough research and seek professional advice before engaging in this strategy.
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• Dec 16, 2021 · 3 years ago
  If you're looking for a more conservative option play in the cryptocurrency market, consider selling covered call options. This strategy involves selling call options on cryptocurrencies that you already own. By doing so, you collect premium income from the options and potentially profit from the price stability or slight decrease of the underlying cryptocurrencies. This strategy is suitable for investors who are bullish on the long-term prospects of cryptocurrencies but want to generate additional income in the short term. However, it is important to carefully select the cryptocurrencies and strike prices to minimize the risk of potential losses.
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• Dec 16, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, offers a wide range of option plays for traders. Their platform provides a user-friendly interface and advanced trading tools to help traders execute their option strategies effectively. Some of the top option plays available on BYDFi include buying call options on popular cryptocurrencies like Bitcoin and Ethereum, selling put options on stablecoins, and engaging in spread trading strategies. BYDFi also offers educational resources and support to help traders understand and navigate the complexities of options trading. It is important to conduct thorough research and consider your risk tolerance before engaging in any option plays on BYDFi or any other exchange.
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