$2x Bitcoin Strategy ETF (BITX.US)$ here's how I'm going to ...
$2x Bitcoin Strategy ETF (BITX.US)$ here's how I'm going to be playing Bitcoin today. everybody knows what I did this past week because I posted it I went balls out I sold naked puts in an enormous amount of contracts collected a premium I laddered my puts that I sold and I was very very worried when it was selling off earlier this week because had it not been for Michael Saylor that came out Wednesday saying he bought a billion dollars worth I would have been in a bad spot I would have been put a dump truck load of Bitcoin through a leveraged ETF b i t x. that being said the worries have subsided however it's not smooth sailing because we know the government under Biden Harris is sitting on a boatload of Bitcoin we know that they were massive sellers we know that they still have an enormous amount left to dump and they are sellers because Trump is for it so anything Trump wants they want to destroy. to that end if you're Bitcoin bowl long-term you can buy The leverage ETF in here and hold it because it fell from the 40s it's 28 there's a lot of upside alternatively technically short-term or reversal would put bitx at 23 and a half with nothing but profit taking. so rather than wait for it to fall I am selling August 16th 23 puts today.. and I'm going to be collecting the premium and if by next Friday I get put b i t exit $23 I'm fine with it.
so I'll collect 50 cents a contract if by next Friday Bitcoin is just fluttering in here a little higher a little lower to put expires worthless and I will repeat the following week selling more puts and I will keep my head right down at the moving average is where I will look to sell not an oversold position but just at the point of profit taking to the moving average.
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