I opened
$BITX 20250131 42.0 PUT$ ,
I sold a cash-secured put option on BITX stock with a strike price of $42, well below its short-term support level of $48. This position is supported by recent U.S. crypto policy changes, including the creation of a working group to regulate digital assets and actions to protect banking services for crypto companies. These moves could enhance confidence in the sector, which might benefit BITX, allowing me to capitalize on potential downside protection while preparing for a bullish long-term outlook.
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