What are the steps to sell a covered call on a cryptocurrency trading platform?

1 answers

• Dec 25, 2021 · 3 years ago
  BYDFi is a cryptocurrency trading platform that allows you to sell covered calls on various cryptocurrencies. Here's how you can do it: 1. Sign up for an account on BYDFi and complete the necessary verification process. 2. Deposit the cryptocurrency you want to use for the covered call into your BYDFi account. 3. Navigate to the options trading section of the platform. 4. Select the cryptocurrency you want to sell a covered call for. 5. Choose the expiration date and strike price for your covered call. 6. Enter the quantity of covered calls you want to sell. 7. Review the details of your covered call order and confirm the trade. 8. Monitor the performance of your covered call and make any necessary adjustments. Remember to always do your own research and consult with a financial advisor before engaging in options trading.
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