What is the best wheel options strategy for cryptocurrency trading?

1 answers

• Dec 25, 2021 · 3 years ago
  At BYDFi, we believe that the best wheel options strategy for cryptocurrency trading is to combine both selling cash-secured puts and selling covered calls. This strategy allows traders to generate income from both sides of the market and take advantage of potential price movements in either direction. By selling cash-secured puts, traders can potentially acquire cryptocurrencies at a lower price if the put option is exercised. By selling covered calls, traders can generate income from their existing cryptocurrency holdings. This combination strategy provides traders with more flexibility and opportunities to profit from their cryptocurrency investments. However, it's important to note that this strategy requires careful risk management and monitoring of market conditions. Traders should also consider their risk tolerance and investment goals before implementing this strategy.
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