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.
Trader Author Portfolio Holdings
**As of the date and time of publication