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You could sell dollar calls for BTC and cash that out immediately. Opens you up to larger potential losses, but at least this way you're the risky counterparty. :)


oops, too late to edit, but I realized you'd want to sell puts. Accidentally reversed too many parameters.


When someone expresses the desire to be "long", they mean they want to buy an instrument, rather than sell it. I want to buy puts, which means I profit if the price goes below the strike. Selling puts means I profit if the price stays above the strike. Since my belief is that BTC's long-term value is zero, selling puts is the last thing I'd want to do.


Not bitcoin puts, dollar puts. You have a tuple for each option position (buy or sell, call or put, usd or btc). You wanted to buy btc puts (buy, put, btc). You can create a similar position by reversing any two of those. I suggested, after the correction, (sell, put, usd). Another possibility is (buy, call, usd). Or (sell, call, btc).

Unfortunately any position you buy is going to have counterparty risk, that's why I suggested selling. Well, it's not a real suggestion, just a thought.




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