Alright, today I kicked off the new year with a few cash secured puts.
I sold 3 Clean Spark contracts. Those are the miner that's a little safer, and a little less volatile. It has a better buisness model with better operational Efficiency. They are also aggressively diversifying into AI
Next 2 Mara contracts. They hold a giant stack of bitcoin and even buy more on the open market with debt as they mine. They are a bit more of a leveraged play.
Finally 3 Bit Farms contracts. They are more of a "penny stock" they are cheap and fill in the gaps. They are trying to build massive data centers while trying to compete with the giants, so I dont imagine I'll ever have a super big position with them.
I actually was a little more defensive today, because I was selling them into a green day early on, the market continued to go up though so if the theta decay is high enough, I'll close them out early and redeploy
Cash secured puts:
3 CLSK @ 11 strike for $120.98 expiry: 1/23
2 Mara @ 9.5 strike for $64.65 expiry: 1/23
3 Bitf @ 2.5 strike for $39.98 expiry: 1/30
I still have 1 covered call on mara hanging around too.
Edit: Sorry about the spreadsheet, I want to make it a bit cleaner. I'll do that later.
Now this is what I like to see! I been doing cash covered puts on Fold stock. But I am using it as a long term stock stacking strategy to force myself to DCA.
I am almost tempted to mirror you but I will keep an eye out on this to see how it goes.
I own Cleanspark shares
But I also own bitfarm LEAPS that did extremely well last summer due to them getting swept up into the AI trade. I been selling them off slowly to put cash into other investments.
Currently holding a massive bag of ASST and NAKA calls. The market is thinking ASST is going to bankrupt they are selling $1 calls with 2028 expiry under $1 per contract. ASST is at a dollar now. Not sure what I am missing but it seems like easy money?
As far as I can see from looking into ASST they pretty recently went into the bitcoin treasury thing, and the only way they can buy btc is to dilute their shares. They are also fighting to stay on the nasdaq because under $1.00 gets you the boot, which loses you institutional money.
I'm definitely not an expert, that's just some of the stuff I saw. If bitcoin keeps some momentum though, they could do pretty well.
As far as the puts I sold, I put in buy to close on all of them for 50% of the price of the contract. Since they are all 3 or 4 week contracts, I'll happily take half the price if it gets there by Friday, otherwise ill cancel thr buy to close orders and reassess over the weekend.
I wouldn't copy me yet, unless you're willing to lose money, I'm pretty new to this. My thought process is that bitcoin price dropped pretty massively, so I'm less fearful of getting stuck holding the stocks for a long time if I get assigned, and I wouldn't mind being a bag holder if it happens anyway.