What are the options for selling covered calls on Robinhood with digital coins?

3 answers

• Comtech SolutionsFeb 19, 2023 · 2 years ago
  Selling covered calls on Robinhood with digital coins can be a great strategy for generating income and hedging your investment. It involves selling call options on digital coins that you already own, while simultaneously holding an equivalent amount of the underlying coins to cover the potential obligation. This strategy allows you to earn premiums from the call options while still benefiting from any potential price appreciation of the coins. It's important to note that this strategy carries risks, and you should thoroughly understand the options market and have a solid grasp of the digital coin market before engaging in covered call selling on Robinhood.
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• Santiago David RuizJan 26, 2021 · 4 years ago
  When it comes to selling covered calls on Robinhood with digital coins, you have a few options. First, you need to ensure that Robinhood supports trading options on the specific digital coins you own. Once you've confirmed this, you can navigate to the options trading section on the Robinhood app or website and select the digital coin you want to sell covered calls on. From there, you can choose the strike price and expiration date for the call options. It's important to consider factors such as the current market price, volatility, and your own investment goals when making these choices.
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• Jnan kumar KarriOct 25, 2022 · 3 years ago
  BYDFi, a digital currency exchange, offers a platform where you can sell covered calls on Robinhood with digital coins. They provide a user-friendly interface and a wide range of options for trading digital coins. With BYDFi, you can easily navigate through the options trading section and select the digital coin you want to sell covered calls on. They also offer educational resources and support to help you understand the intricacies of options trading and make informed decisions. Selling covered calls on Robinhood with digital coins through BYDFi can be a convenient and profitable option for traders.
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