This is a play only if we break down from this consolidation period on the daily chart.
If we get downside in this looming break out, Im thinking to target end of July contracts and sell 31st above 10,ooo strikes Calls. Decay could really work in favour each week we could be hanging down there, anything above 10k will be getting crushed. If for some reason we got back above 10k during the time of this play I would be covering my calls expecting further continuation to the upside as that would be breaking a macro Resistance level.
I actually feel this would be nice to get one last test down to the lower EMA's & MA's. It would really load up indicators for the power to blast through to a new Macro area of game time above 10k.
To trade Bitcoin Options I recommend using Deribit. My affiliate link bellow to sign up and get involved.
www.deribit.com/reg-10829.8451
If we get downside in this looming break out, Im thinking to target end of July contracts and sell 31st above 10,ooo strikes Calls. Decay could really work in favour each week we could be hanging down there, anything above 10k will be getting crushed. If for some reason we got back above 10k during the time of this play I would be covering my calls expecting further continuation to the upside as that would be breaking a macro Resistance level.
I actually feel this would be nice to get one last test down to the lower EMA's & MA's. It would really load up indicators for the power to blast through to a new Macro area of game time above 10k.
To trade Bitcoin Options I recommend using Deribit. My affiliate link bellow to sign up and get involved.
www.deribit.com/reg-10829.8451