I 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...
... 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...
the 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.
... 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...
... 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...
These 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
...
... 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...
If 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...
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...
Bitcoin 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...
With 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...
BITO is a bitco etf almost mirroring bitcoin price.
BITO also offering 15% annual dividend return which pay out monthly.
Currently BlackRock is trying to get their own bitcoin spot etf approve
and news of possible approval made bitcoin price spike with excitement.
Trade strategy: Cash secured Put
Selling 4 contract of Nov 4 strike price 17.5 @ $1.35 (this is...
📉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...
