Is it possible to sell covered calls on Robinhood using Ethereum and other cryptocurrencies?

3 answers

• Dec 26, 2021 · 3 years ago
  Yes, it is possible to sell covered calls on Robinhood using Ethereum and other cryptocurrencies. Robinhood offers options trading for select cryptocurrencies, including Ethereum. To sell covered calls, you need to have the underlying cryptocurrency in your Robinhood account and meet the eligibility requirements set by Robinhood. Selling covered calls involves selling call options on the cryptocurrency you own, while simultaneously holding an equivalent amount of the cryptocurrency to cover the potential obligation. It allows you to generate income from your cryptocurrency holdings while potentially limiting your downside risk.
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• Dec 26, 2021 · 3 years ago
  Definitely! You can sell covered calls on Robinhood using Ethereum and other cryptocurrencies. It's a great way to potentially earn income from your crypto assets. To get started, you'll need to have a Robinhood account and meet the eligibility requirements. Once you have the required cryptocurrency in your account, you can navigate to the options trading section on the Robinhood app or website and select the cryptocurrency you want to sell covered calls on. From there, you can choose the strike price and expiration date for the call options and execute the trade. Just keep in mind that options trading involves risks, so make sure to do your research and understand the potential outcomes before getting started.
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• Dec 26, 2021 · 3 years ago
  Yes, you can sell covered calls on Robinhood using Ethereum and other cryptocurrencies. However, it's important to note that Robinhood is not the only platform that offers this feature. BYDFi, another popular cryptocurrency exchange, also allows users to sell covered calls on various cryptocurrencies. Both Robinhood and BYDFi provide a user-friendly interface for options trading, making it easy for beginners to get started. Selling covered calls on Robinhood or BYDFi can be a profitable strategy to generate income from your cryptocurrency holdings, but it's crucial to understand the risks involved and have a solid understanding of options trading before diving in.
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