Yesterday I signed up for Deribit which is the largest trading platform for Bitcoin when it comes to options settled in Bitcoin.
I love options since they can generate very nice returns and that you will not be stopped out due to some very volatile movements which is always the risk when you trade on Bitmex for instance (Bitcoin futures).
In terms of option alternatives, they have constantly 3 different kinds of options and they are:
- Weekly
- Monthly
- Quarterly
So, right now I have bought a Call option for Bitcoin to be over $8000 before 27th of April. I do think that there is a very high probability that Bitcoin will rise in the month of April compared to the current price levels.
Also, I have compared Deribit (has been around since 2016) with Quedex since they also offer Bitcoin options but there is almost no trading going on there for options and that makes it difficult to buy either call/put options when you want.
It is also important to notice that Deribit is using European Options which means that you cant close the position using limit orders, only current market orders. So keep that in mind.
Finally, get over there and check it out: