Opened (IRA): BITO July 19th 24 Short Put... for a 1.44 credit. Comments: High IV at 59.6%. Looking to pick up shares at or below my covered call's current break even of 27.10. Metrics: Buying Power Effect/Break Even: 22.56 Max Profit: 1.44 ($144) ROC at Max: 6.38% ROC at 50% Max: 3.19%Longby NaughtyPines1
Opened (IRA): BITO June 28th 31 Covered Call... for a 27.55 debit. Comments: Not the weakness I was looking for, but setting myself up to grab the early June dividend. Generally, I'll look to roll out the short call at 50% max ... .Longby NaughtyPinesUpdated 2
Opening (IRA): BITO July 19th 30 Covered Call... for a 26.12 debit. Comments: Re-upping after closing out my longer-dated covered call (which I had rolled all the way out to December). Selling the -30 delta call against long stock here. As before, will look to roll out the short call for duration at 50% max, collect the monthly dividend along the way ... . I'll also look at selling short put, assuming I can get in on weakness and with a resulting break even better than what I currently have on.Longby NaughtyPinesUpdated 0
$BITO LongAMEX:BITO is ready to continue to work towards the VWAP at 29.04. The MACD has crossed and the time frame continuity is strong. If it can breakthrough the VWAP of 29.04, it can make it's way into 31. The stop loss that is in place is at the 25.78 area. Bitcoin has been strong along with gold and silver making new highs. So, this one should continue to track alongside them. Longby GlennTrading0
Opened (IRA): BITO April 19th 31 Covered Call... for a 27.54 debit. Comments: High IVR/IV at 97.9/81.9% and a monthly dividend to take advantage of. However, the monthly dividend has varied widely -- with the last two distributions paying .36 (February 8th) and .73 (March 8th) with an annual dividend of 8.72 (.73 average monthly) (31.7% annualized as a function of current price). I'm primarily looking to grab the April monthly here; anything additional above my break even will be gravy ... . In any event, the metrics: BPE/Break Even/Cost Basis in Shares: 27.54 Max Profit (ex. dividend): 3.46 ($346) ROC at Max: 12.56%Longby NaughtyPinesUpdated 112
Opening (IRA): BITO June 21st 24 Short Put... for a 1.82 credit. Comments: Adding a short put on weakness here to my covered call, which I'm sticking in with to grab the monthly divvy. I'm okay with being assigned additional shares, since the break even of the June 24 is below the cost basis of what I currently have on. Otherwise, I'm perfectly fine with doing my usual take profit at 50% of max. Metrics: Buying Power Effect/Break Even: 22.18 Max Profit: 1.82 ($182) ROC as a Function of Buying Power Effect: 8.21% ROC at 50% Max: 4.10%Longby NaughtyPinesUpdated 0
clear oversold market structure bitcointhe network has provided a ver liquid structure to the downside. now that is contracting, i believe we will revisit the sell heavy area as a contraction of the bear move according to this market structure POC VAL.Longby cerealmarketUpdated 0
BITO @ $39 Jun '24I feel increasingly isolated among the growing crowd of bears but I believe BITO has formed a textbook flag pattern. My argument: Following a sharp move upward, beginning 3/14 (6 weeks from the time this was published), price has declined in 3 drives forming a clear channel but didn't break the 50% retracement level while volume has steadily declined during the formation of the flag. If I'm correct, a movement similar to the one that makes the flagpole would put the price right at the .382 level which I believe further supports my argument. Full disclosure: this is all based strictly on technical analysis and I have limited experience in dealing with crypto or it's derivatives so there could be something I'm missing. It's entirely plausible that I'm completely wrong but I'd appreciate any feedback from the communityLongby Scuba_Steve56661
Opened (IRA): BITO May 17th 24 Short Put... for a 1.74 credit. Comments: Adding a rung at strikes better than what I currently have on. Will generally look to take profit at 50% max or take assignment of shares should that occur and proceed to sell call against. Metrics: Buying Power Effect/Break Even/Cost Basis in Shares (If Assigned): 22.26 Max Profit: 1.74 ($174) ROC %-age at Max: 7.82% ROC %-age at 50% Max: 3.91%Longby NaughtyPinesUpdated 2
Top of channel POC magnet buyThese algorithms say this price action is a buy, and are indicating pressure towards the top of the daily trennd channel. this fund is oversold, and in pullback from a bullish overall trend where it has consolidated above fair valu gap and equillibrium. AI is good at trading crypto, and if the computer is buying itself, then im buying the computer AMEX:BITO CME:BTC1! Longby cerealmarketUpdated 0
BITCOIN ETF (BITO) LONGWe should hold this support here and continue our trend for long, reaching around $36+ as targets.Longby card2211113
Opening (IRA): BITO April 19th 26 Short Put... for a 1.23 credit. Comments: Adding to my covered call position (See Post Below) on weakness, converting the covered call into a covered strangle (i.e., short put + stock + short call). I went with April, since May appeared to be shit illiquid at where I'd want to pitch my tent. I'm fine with being assigned additional stock here at the 26 strike, since my cost basis in my shares is currently 27.54, with the cost basis in any shares assigned via the 26 at 24.77, although my preference would be just to take profit on the covered call aspect at 50% max and the short put at 50% max and move on. Naturally, if I also manage to grab the April dividend, that would be additionally bueno. As a standalone trade: Break Even/Buying Power Effect/Cost Basis in Any Assigned Shares: 24.77 Max Profit: 1.23 ($123) ROC at Max: 4.97% ROC at 50% Max: 2.48%Longby NaughtyPinesUpdated 1
BITOWell to me BITO very overbought and due for a correction. Be interesting to see then what happens going into BitCoin halving in April.Shortby MAgicTrx110
a BITO carried away!31 days over the 9 day MA of lows. At a 3+ containment ratio, I'd look for a decent short on that containment MA failure.Shortby MAgicTrx111
BITO - take it slow27 days over the 9 day MA of lows. 3:1 is in the danger zone. Be careful longs.Shortby MAgicTrx0
$BITO ETF for Bitcoin with Monthly DividendsIf you're planning to invest for the long term and want to bet on Bitcoin's growth while expecting a decline in the value of the US dollar, you might want to consider an Exchange-Traded Fund (ETF) called $BITO. This ETF can be a good option. What's interesting about this investment is that it offers a dividend yield of 14.49%, and this dividend is paid out every month. If you're considering entering the market, a good entry point could be around $22.52 per share. To manage your risk, it's advisable to set a stop-loss order at $21.84, ensuring you have some protection in case the investment doesn't go as planned. It's suggested to remain optimistic about the investment as long as the price stays above the balance line of $21.82 at this moment.Longby ImmaculateTonyUpdated 223
$BITO Ready to Run?AMEX:BITO Kathy Woods AMEX:ARKW fund sold OTC:GBTC and bought $92mm AMEX:BITO yesterday. They also sold $COIN. There is the news. I am more of a technical trader, and I like the set-up on BITO here. I have started a one third size position in the anticipation of a break above the small consolidation area or pennant. My stop is tight, just below today’s low of day. I like the fact that it is trading above the IPO AVWAP which means that by volume most shareholders are in the money. That means there is little overhead resistance at this point. It is also trading above all the moving averages. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking. Longby jaxdogUpdated 553
BITO, BTC & I'm Not SureBitcoin has had a meteoric rise since its creation For the first time we will see how investors approach the coin in a truly deflationary bear market But for now the coin and subsequently BITO are in the beginnings of a bull market rally The questions are will they be a victim of the mania that drove the "everything bubble" OR Will investors see them as a "safe haven" in truly turbulent times... We will find out together!Longby Heartbeat_TradingUpdated 117
Bearish Island Gap Reversal" BITO 1/12/24With the extreme demand and hoopla for the introduction of a bitcoin ETF becoming a reality with SEC approval on Jan.11,2024 Pro Shares ETF BITO price action shows" why" they only bring these things out at the top. Fascinating. The chart shows a rare " Triple Island Reversal"with 1 Price breaking out bullishly at the opening, 2.Only then to break back into the prior pattern, and then completing the horror for by 3 Reversing, below island support, completing the total breakdown of patterns bullish structure back to the base, and then breaking below that support... to a new low. From a price high of 30, to below 25, in just the two sessions you had the 30 min KST Indicator confirming every step of the wa Bullish traders who plowed millions and millions into this ETF, saw it crash 20 % from the high at 30 on Jan11, and continuing down to 25 on Jan 12 Simply put, the crowd of traders demanding trading for a Bitcoin ETF, lost badly,.. immediately after they stated trading them. Just goes to show you, they only put these things out at the top ! You should keep your eyes out, because these Bitcoin EFT's are going to move dramatically up and down every day, gap up,moves gap down moves will be the norm. Welcome to the new world of crypto trading where just 2 days these bitcoin ETF trading proved they are not for widows and orphans. But certainly for those traders who want and need sharp price movement. BITO and others like it will give you all the opportunity to trade bitcoin with massive volume every day. Doesn't get any better than that...? .BITO Last 21.06Shortby The_Unwind8
ETF's in the cryptocurrency sector vs Bitcoin📉This graph shows the average price of the main ETF's in the cryptocurrency sector, and their correlation with Bitcoin. 🟢These are the ETF's aggregated here: PROSHARES BITCOIN STRATEGY ETF GRAYSCALE BITCOIN TRUST (BTC) GRAYSCALE ETHEREUM TRUST (ETH) AMPLIFY TRANSFORMATIONAL DATA SHARING ETF (BLOK) BITWISE 10 CRYPTO INDEX FUND (BITW) GLOBAL X BLOCKCHAIN ETF (BKCH) GRAYSCALE LITECOIN TRUST (LTCN) VANECK UCITS ETFS PLC CRYPTO AND BLOCKCHAIN INNOVATORS UCITS (DAPP) BITWISE CRYPTO INDUSTRY INNOVATORS ETF (BITQ) GRAYSCALE DIGITAL LARGE CAP FUND LLC (GDLC) I would love to, but I don't think the price is going to go straight up to the moon🚀👎❌. The banks will make it as difficult as possible (can you imagine if everyone got rich quick and easy without having to be a slave?), and they will manipulate the market to enter at the lowest possible price. Funny, that they insisted and spread FUD one after another, that Binance should prove that it owns the customers' balance. They tried to knock her down with this narrative, but they couldn't. But what about banks, do they do that? Could it be that if everyone shows up at bank doors asking to withdraw their paper money, won't the army show up with a bunch of war tanks to protect half a dozen tycoons? I'm looking forward to the next narrative.Shortby andre_007Updated 559
BITO bittom?Through the zero slope MA of lows. Maybe we get a full pivot through the zero slope MA of medians this coming week. Longby MAgicTrx111
BITOWas that the bottom? Through the zero slope MA of lows. Let’s see! Maybe more with tomorrow’s numbers. Longby MAgicTrx0