6 March, 2023 seen 68Last week, all of our iron condors on Ethereum expired worthless, meaning that we were able to keep the entire premium…
I've been introduced to the amazing world of options trading via stocks about 2 years ago, soon I started to investigate can we trade options also on cryptocurrencies, and here is how I found the Deribit crypto options trading platform.
On Deribit.com I've been trading crypto options with various success since April 2019, unlike stock options, crypto options are cash-settled in crypto, which can make this bit complicated, make sure to read out my previous article on this topic;
- Selling Covered Calls on Ethereum (Crypto Cash Settled)
- Selling Covered Calls on Crypto (Ethereum / Bitcoin) with Deribit?
I've decided to launch another cool challenge - trading small bits of Ethereum every day for the next 30 days, starting yesterday (November 26, 2020)
Here is the plan - I will sell out of the money call options with one-day expiry (1DTE), I'm looking at a 0.2-0.3% potential income yield every day. My starting balance ETH 0.18, which allows me to sell 1 contract (margin requirement). At the start of December, I will purchase more ETH and will try to make at least two contracts per day.
If I will make any profit at the end of this challenge, I might scale up in 2021.
All updates will be shared.