Do you use options in your trading strategy?

[stochastic]

Just curious how many people here use options in their trading strategy.

[1714802330]

1714802330

[FreeMoney]

Would you like to tell us about a site where we can trade bitcoin options?

[stochastic]

Would you like to tell us about a site where we can trade bitcoin options?

No, I have not used it yet.  When I do I will report back.

[M4v3R]

You can trade options here: http://polimedia.us/bitcoin/options.php

[stochastic]

You can trade options here: http://polimedia.us/bitcoin/options.php

I want to give them a try eventually.  A good options market will do wonders of keeping volatility down.  Imagine if more people protected their long positions with buying a put.  Then if the price declined too much at least they would not panic.

[Vandroiy]

I see there are experiments on options in Bitcoin, but I don't see it being trustworthy enough yet, so no. I did want to get options at times, but the offers I checked at the time weren't to be taken serious.

Frankly, I don't trust this polimedia site. They offer me 800 puts this month at 3.5 BTC for 12 BTC or so, executable any time? Sounds like a scam, either they won't pay either way or they'll just say "lol I'm bankrupt" at the first unforeseen event.

[copumpkin]

I see there are experiments on options in Bitcoin, but I don't see it being trustworthy enough yet, so no. I did want to get options at times, but the offers I checked at the time weren't to be taken serious.

Frankly, I don't trust this polimedia site. They offer me 800 puts this month at 3.5 BTC for 12 BTC or so, executable any time? Sounds like a scam, either they won't pay either way or they'll just say "lol I'm bankrupt" at the first unforeseen event.

No, it's trustworthy. The guy behind it, mircea_popescu, is a regular at #bitcoin-otc and has a good rating on the web of trust. I've bought options from him and it was all smooth, despite the rather arcane purchasing process.

The pricing is in USD, so when you see a put at 3.5 that means it's a put at $3.50, which is understandably very cheap. I'm not sure what a put in BTC would mean...

However, to avoid dealing in USD at all, he quotes prices in USD and then settles transactions in BTC at the current (24h-averaged) market rate.

Now if only we had a good place to sell options, too doing it over the counter with people is fine, but it's kind of annoying, especially when most people in the community have no clue what an option is, let alone an idea of when it makes sense to buy/sell one

[ineededausername]

You can trade options here: http://polimedia.us/bitcoin/options.php

I want to give them a try eventually.  A good options market will do wonders of keeping volatility down.  Imagine if more people protected their long positions with buying a put.  Then if the price declined too much at least they would not panic.

That site doesn't seem too well designed... encoding information in transaction amounts seems pretty kludgy to me

[im3w1l]

(x) I do not understand options, and use them in my trading strategy 

[copumpkin]

(x) I do not understand options, and use them in my trading strategy 

Well in that case, I think you should sell me 50k puts at a strike of $50 for 1 btc total. I don't really care when they expire as long as it's sometime in the future that allows me to exercise the options before they expire

[MPOE-PR]

Points to sig, smiles sweetly.

[phorensic]

Nice avatar