Long BITO Put - Dec/23 at $25$0.05 contract - taking a punt on global market weakness ahead of Christmas and BTC looking increasingly heavy with limited interest in the sector as per google search trends.by vandmed0
BITO Bitcoin Futures ETF: Inefficient & very expensive productSUMMARY: Don't touch, these are inefficient financial instruments and one is better off buying and owning Bitcoin itself. There is a huge administrative cost to owning an ETF , in addition to the costly futures contract that underlies it. It has been forecasts that there could be as much as a "11% drag on yield" using a Bitcoin Futures ETF. The fund portfolio manager needs to paid; the exchanges need to be paid for opening the futures contracts, there is large basis risk as they need to roll the positions forward every quarter. On top of the fact, futures exchanges are closed on the weekend whilst Bitcoin trades 24/7. Huge tracking risk, especially if BTC was to crash after the futures exchange closed on a Friday. Additional fees include auditors, custodian bank, pay for expensive compliance teams to monitor the positions and report daily to the regulators. OR! One can buy the BTC direct and avoid the aforementioned BS. Just as Bitcoin was intended to be owned. Own BTC directly, means 100% of the gains belong to you! AND! it is less risky. Shortby Tez82
Tutorial: "Safety Taping" Naked Positions to Bring in BPEExample 1: Safety Taping a Short Strangle Pictured here is a BITO short strangle that I entered on 12/8 for a 1.59 credit on buying power of 24.16. (See Post Below). At this point, I'm considering "safety taping" the naked short strangle off to bring in buying power effect. A "safety tape" setup can also be used to offer additional protection against an outsized move to either side and therefore limit loss. In this particular case, I'm looking to shop for cheap longs in the expiry in which my short strangle is set up. I can also do this in shorter duration (which will not give me buying power relief, but will protect me from an outsized move), the same duration as the naked, or in longer duration. Here, I can buy cheap wings that dramatically cut that 24.16 buying power effect. The 16/55 long strangle would cost .27 to put on (as of Friday's close) and would result in a 16/25/44/55 iron condor, the widest wing of which is 11-wide. This brings in buying power effect in from 24.16 by more than half, since the maximum risk of the safety-taped setup is that of an 11-wide minus the net credit received. Naturally, I'm paying a debit to do this, which reduces my net credit received for the setup from 1.59 to 1.59 - .27 = 1.32, but it also dramatically improves my potential ROC as a function of buying power effect from the original 6.6% at max to 13.6% at max. Example 2: Safety Taping a Short Put For "wheelers" (i.e., short put, acquire, cover), safety taping off short puts can also conserve buying power, particularly in a cash secured environment like an IRA. Example: BITO January 21st 23 Short Put .61 Credit Buying Power Effect: 22.39 (Cash Secured) ROC as a Function of BPE: 2.72% vs. BITO January 21st 16/23 Short Put Vertical .53 Credit Buying Power Effect: 6.47 ROC as a Function of BPE: 8.19% Educationby NaughtyPines223
Opening (Margin): BITO January 21st 25/44 Short Strangle... for a 1.59 credit. Comments: Selling ~16 delta premium in high implied BITO (30-day at 82%). Unfortunately, because the broker's basically requiring that this particular underlying be cash-secured, the ROC isn't very sexy as a function of buying power effect: $159 credit on a buying power effect of $2416 or 6.6% at max/3.3% at 50% max. In any event, will look to take profit at 50% max; manage sides on approaching worthless or side test.by NaughtyPines445
BITO ETF Bitcoin: Seems like a waste of money buying theseSUMMARY: Don't touch, these are inefficient financial instruments and one is better off buying and owning Bitcoin itself. There is a huge administrative cost to owning an ETF, in addition to the costly futures contract that underlies it. The fund portfolio manager needs to paid; the exchanges need to be paid for opening the futures contracts, there is large basis risk as they need to roll the positions forward every quarter. On top of the fact, futures exchanges are closed on the weekend whilst Bitcoin trades 24/7. Huge tracking risk, especially if BTC was to crash after the futures exchange closed on a Friday. Additional fees include auditors, custodian bank, pay for expensive compliance teams to monitor the positions and report daily to the regulators. OR! One can buy the BTC direct and avoid the aforementioned BS. Just as Bitcoin was intended to be owned. Own BTC directly, means 100% of the gains belong to you! AND! it is less risky. by Tez8Updated 4
Long BITO Call Option - Dec/31 at $40Bitcoin looked like it was going to tank and didn't. As crypto basically trades off of successful and failed chart patterns (no fundamentals - sentiment driven given infancy of the industry) - a failed breakdown usually leads to another strong leg higher in the coming weeks.Longby vandmedUpdated 0
Closed: BITO December 17th 2 x 25/2 x 28/49/55* Double Double... for a .75 debit. Comments: In for 1.49 (See Post Below), out today at 50% max via a good until cancelled order, a .74 ($74) profit. 30-day is still good in this underlying at 85.2%, so may re-up when the January monthly gets a little shorter in duration. (It's currently 59 days out). * -- I had to squeeze in the strikes on the chart in order to get them to show due to BITO's limited data set.by NaughtyPines0
Is BITO Finding Its footing?BITO, a Proshares ETF strategy for Bitcoin futures, has filled the gap created on the daily chart at around $40. I'm interested in taking a position in this instrument but had my doubts when I saw the bearish engulfing candle on the daily created back on 11/10/21. The crypto bulls really don't like BITO because the fund doesn't hold any actual Bitcoin, but rather values on the future price movements of Bitcoin. BTC/USD seems to be on a fairly strong uptrend, but as we all know BTC can turn on a dime. BITO has good daily volume (over 9 millions shares daily). If it can clear $44.28 and hold, I will look to go long. Longby lancer55990
BITO ProShare Bitcoin ETF , Inverted Head and Shoulders ? What do you think about a possible inverted Head and Shoulders in BITO: entry point at 41.70$ , stop loss below 40 $ take profit at 44.20$ ? Let me know. by Casciouz2
bito thanksssssssss entry and tg see chart man to bas yahi ek hi bat kahta hun agar man saraswati ka janm din ki ek hi bat hai kiby Mushr5
Opening (Small Account): BITO December 17th 2 x 25/28/49/55Double Double for a 1.49 credit. Comments: Can't resist the 78.5% 30-day implied here. Going with a delta neutral double double iron condor to accommodate awful call side skew here -- twice the number of contracts on the put side as on the call, with the call side spread twice the width of the put side. Will look to take profit at 50% max.by NaughtyPinesUpdated 3
RAT POISON for BTCThe moment this opened on the markets Bitcoin's price began to swing more wildly and followed this closely. Ever since this came out, BTC has gone down. More and more will come out and BTC will crash one day. (Not financial advice)Shortby MonetaryRebel996
BITO short corrective rise begins.BITO short corrective rise begins. Target price : 41.84 usd. After that I expect a significant reversal. Let's start from the beginning. The orange lines mark ATR axes. More precisely, the starting points of the ATR axes, the places where the ATR values are zero. In technical terms, we can talk about accumulation if the distance between the initial value of the ATR and the extreme value of the local price is equal in the long direction and in the short direction. In these ranges, the number of sellers and buyers are the same, hence the accumulation. This is also the case here. More precisely, the price movement of the BITO immediately turned into an accumulation movement. The yellow squares, which are equal in both directions, represent the accumulation area. I now expect a short resistance level to form from the lower accumulation level(formed by the short position builders) and an upward correction movement to develop. Up to the 50% level of the short direction accumulation area. In the present case to the level of 41.84 usd. I expect a short rise. Then a profit realization could occur and technically the decline could continue. Longby meszaros6616
BITO: $41 | BTC: $63,000 Fwd Price $550k by 20224when Gold at $200 first issued an etf sometime in 2003 it's price went to $1800 that was a an 800% price upside in 7 years in currenty times 2021 with all the technology and access to markets.. that 7 years may just be recuded to 7months or maybe even weeks next halving is 204 around March.. and $550k BTC should be around that areaby senyorUpdated 558
CRYPTO ETF - THE ESCAPE ROUTE FOR PROFIT??AMEX:BITO I'm not a fundamentally based trader, however, there are times where a theoretical story seems likely to supplement the technical analysis side of the (bit)coin. Technically: Most IPOs are pretty obvious as to what is support and resistance are after a few days of trading. Therefore, mapping out potential levels in the future become easier - especially if happens to align with large round numbers. The areas shaded are in my opinion the ONLY places I would pay attention to. Fundamentally: Bitcoin is at HI's again, and crypto is prevalent in the news with the launch of its first ETF (paving way for others). If anyone is looking to get out of bitcoin near its all-time HI, double top, then we need buyers. These ETFs are providing the liquidity for the sellers aka the escape artists to profit from the buyers and new players into the crypto world. We may see absorption of this buying (temporarily?) before we see bitcoin, crypto, and BITO ETF suffer some. Small moves in the grand scheme of things where you can still profit. Just an idea....Shortby ProSTrades6
BITO - New CandyBitcoin ETF launched today and was immediately Bid. One to add to the Watchlist. This will become a widely traded Instrument. by HK_L617712
Yes we go up a littleWe partake in a little going up this etf will likely over price significantly and trade at an insane premium Longby adamvibeoUpdated 114
BITO 15m (Bitcoin ETF) up to +4.5%BITO, ProShare Bitcoin ETF. Is the new Index for bitcoin. Shares of Proshares Bitcoin Strategy ETF (BITO) were up to 4.5% during first day of trading. The found is the first US-listed ETF linked to Bitcoin futures. ........... Nearly will record more than 100.00Longby SroshMayi5
"Wall Street Bitcoin" Lovely baby chart on the 15minWell, as someone who is extremely critical of toxic Wall Street Instruments. I am impressed with this "futures" BS "Bitcoin-link" instrument of mass destruction. Fortunately, Bitcoin, unlike manipulated gold and silver commodity markets, is a world-wide, distributed and battle hard spaceship. Gifted to us by the gods not though gold but though MATH AND TRUTH! And the charts over today's first trading day on crook street (banksters hours) shows a lovely 15 min period chart ending with a warm bullish engulfing candle. Warms my heart. Enjoy the ride people. Trust yourself first. And verify the rest! Notes: First date trading: $40.88 OPEN 24.284M VOLUME BITO is NOT an investment because it's decays with futures contract roll overs. Great swing trade position. As we break 65K, BLUE SKY BREAKOUTS to .... (TBC)Longby UnknownUnicorn24137210
bitcoin ETF... good startBITO is the new index to watch! Greyscale files to convert Bitcoin found into an ETF... Longby STOIOMA2
DIBBS on being the first idea on BITOjust guessing BITO futures will short/sell the market like back in 2017 then the non-futures will pump the market whenever they get approved. idkLongby M3SSIAH2211