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Mike Butler Put On a Bullish Coinbase Trade During an 11% Rip
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Chapters16 segments · tap to seek
ticker lesson
Breakdown
0:01COIN· ticker
Coinbase — up 20 points, 11% rally
- Bitcoin up 4,500 points, 6% rally
- Ethereum up 6.4%
- Coinbase benefits from market move
2:04BTC· ticker
Bitcoin — 4,500 points up, 6% rally
- Price at 195
- Top end of range
- Potential for 200-point move
4:07COIN· ticker
Coinbase — long 200 strike, short 230/260
- Long November 200
- Short October 230/260
- 30-point wide crab trade
6:04lesson
Earnings cycle strategy
- Hold extrinsic value until earnings
- Pay more for November options
- Reduce cost basis with short sales
8:06COIN· ticker
Coinbase — bullish setup, 195 resistance
- Gap higher at open
- Bullish intraday range
- Potential for 195 breakout
9:59BTC· ticker
Bitcoin — gap higher at 8:38
- Gap higher at 8:38
- Trudged higher since
- Market down, Bitcoin up 5%
12:02COIN· ticker
Coinbase — cost basis reduced to $13
- Bought 200 November
- Sold two 230s, bought one 260
- Cost basis reduced to $13
13:58COIN· ticker
Coinbase — defensive mechanics
- Roll to 20-point wide crab
- Roll to 15-point diagonal spread
- Reduce cost basis to $10
13:59COIN· ticker
Coinbase — profit scenarios
- 20-point move to 210
- $600 profit
- Extrinsic value holds
14:00COIN· ticker
Coinbase — call skew advantage
- 170 strike at $4
- 220 strike at $6
- Call skew reduces cost basis
14:01COIN· ticker
Coinbase — bullish trade, 11% rally
- Bullish trade into 11% rally
- Market down, Bitcoin/ETH up
- Big green bar this year
14:02BA· ticker
Boeing — annual lows, low volatility
- Near annual lows from March
- Low implied volatility
- Daily chart analysis
14:03COIN· ticker
Coinbase — defined risk long option
- Defined risk at $1.70
- Downside at $1.30
- Premium for selling options
14:04COIN· ticker
Coinbase — earnings cycle trade
- Long November 200
- Short October 230/260
- Extrinsic value holds
14:05BTC· ticker
Bitcoin — interest rate hikes, bullish pressure
- 25 basis point hike
- Potential for more hikes
- Bullish pressure on BTC/ETH
14:06lesson
Market dynamics and trade timing
- Muted downside day
- 25 basis point hike
- Bitcoin/ETH rally
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