Intraday Update- BITO

By Dan Darrow

November 9th, 2022

Intraday Update: BITO

It's been an interesting 24 hours in Crypto land. FTX's surprising collapse has sent ripples out across the Crypto space, and the unease is leading to a drop in Bitcoin. BITO, after just looking ready for a breakout, is now beginning to break down, and the Dec16 $14 - $17 call spread does not make sense for a trade at this point. There is still premium remaining on the options, so the trade will be closed as the thesis changes.

Open Positions

* The following Open Positions pertain to the Options In Play trade ideas from this and previous editions. Disclosure of the Trader Co-Author’s actual portfolio holdings, as of the date of each publication, is made below under "Trader Author Portfolio Holdings.".

Trader Author Portfolio Holdings

**As of the date and time of publication

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