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Author Topic: WTB 100btc binary covered call options, 12m maturity  (Read 1470 times)
philipmicklon
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February 28, 2015, 05:41:14 PM
 #1

Title says it all. I want to buy 100btc of binary covered call options with a 12m maturity.

I'm interested at various strike prices ($240 - $500).

The only exchange with a binary options market (coinut.com) has very low liquidity.

Anyone here interested in writing such a call option?

I will only work with highly reputable multi-sig escrow service.
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Quickseller
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February 28, 2015, 07:17:56 PM
 #2

What pricing are you willing to offer?

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philipmicklon
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February 28, 2015, 10:18:10 PM
 #3

What pricing are you willing to offer?

Depends on strike price.

As to current market prices: This screenshot shows current ask prices for a 6 month binary option on coinut. ASK PRICE for binary 0.01 BTC PAYOFF with maturity date of 2015-08-28 and strike price of 264 is currently 0.001580.

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March 02, 2015, 06:51:45 PM
Last edit: March 02, 2015, 11:12:30 PM by 2dogs
 #4



A covered call strategy involves holding a long position, and you are selling the option because you have a neutral or bearish view of the price a year from now.

DEFINITION of 'Covered Call'

An options strategy whereby an investor holds a long position in an asset and writes (sells) call options on that same asset in an attempt to generate increased income from the asset. This is often employed when an investor has a short-term neutral view on the asset and for this reason hold the asset long and simultaneously have a short position via the option to generate income from the option premium.

This is also known as a "buy-write".


http://www.investopedia.com/terms/c/coveredcall.asp

But you are asking to BUY, so is your position bullish (ie, you want to buy the option to purchase BTC at various strike prices, believing the price will go up?)



EDIT:  Just ran across this new derivative exchange; I cannot vouch yet but you may want to check it out.  Appears they are heavy into the KYC and AML as they make you verify your account and enable 2FA before you can even DEPOSIT BTC:

https://www.cryptofacilities.com/
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March 02, 2015, 10:00:04 PM
 #5

Well a 12 month maturity is going to be a lot more expensive for a 6 month maturity (probably at least 3 to 4 times more expensive).

Why don't you post an offer for a few strike prices on a per .01 BTC payoff basis, and I will see if it is attractive enough of an offer

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March 02, 2015, 10:15:11 PM
 #6

At least the premium would be 1 BTC itself per coin. No one in their right mind would write a 12 month option for bitcoin.

I'd consider $450 strike price with 1 BTC fee for 1 BTC call option.

Meaning to break even bitcoin has to be at $900 at end of year.


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philipmicklon
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March 04, 2015, 06:35:53 AM
 #7

But you are asking to BUY, so is your position bullish (ie, you want to buy the option to purchase BTC at various strike prices, believing the price will go up?)
Yes. I'm bullish.

Why don't you post an offer for a few strike prices on a per .01 BTC payoff basis, and I will see if it is attractive enough of an offer
Strike $300 - payoff .01btc - expiration 6 months - bid: .002btc - would like to buy 10,000 - 50,000 orders at this price.

I'm available to have a skype call or google hangouts call to discuss options if anyone is interested in selling/writing a call option.
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