I sold a put option on BITO stock with a strike price of $19, well below its short-term support at $22, following a dip in crypto stocks. The market was affected by President Trump’s inaugural address, where he did not address his previous campaign promise regarding a strategic Bitcoin reserve, causing uncertainty in the crypto sector. This created an opportunity to collect premium income, betting on BITO holding above the support level.
| Side | Price | Realized P&L |
|---|---|---|
| Sell Open | 0.01 | 0.00% Holding |
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