What are the best ways to sell cash secured put in the cryptocurrency market?

1 answers

• Nkit Mbock MbockMay 11, 2023 · 2 years ago
  At BYDFi, we recommend selling cash secured put options in the cryptocurrency market as a way to generate income and potentially acquire cryptocurrencies at a lower price. By selling put options, you receive a premium upfront and have the obligation to buy the underlying asset at a predetermined price if the option is exercised. This strategy can be particularly effective in a volatile market, as it allows you to take advantage of price fluctuations. However, it's important to carefully assess the risk and only sell put options on cryptocurrencies that you are willing to own. Additionally, make sure to set realistic strike prices and monitor the market closely to adjust your strategy as needed.
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