6SR Options Checkpoint 2
6SR Trading, Checkpoint 2
It appears that we have entered a consolidation cycle, and we are likely heading in to another so-called "Crypto Winter", where crypto prices trade within a relatively tight range for a number of months or years.
Our long calls expired worthless from the first session, and today's expiration (June 4, 2021) is looking like we are right at-the-money with the $37k. We will be exercising our options, but probably won't make any profit.
For our positions, we will continue to sell in-the-money calls at a range of 34k to 38k, depending on the price swings. We expect consolidation to happen around $35k, with possible down-side risk depending on geo-political actions. We are a buyer of options at $33k for bitcoin.
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