Microstrategy iron butterfly 12/18 expiryMicroStrategy said on Monday that it plans to offer $400 million of convertible bonds in order to buy more Bitcoin. They already own $50 million of Bitcoin on their balance sheet. It's core business is the provision of enterprise analytics and mobility software. But since the CEO, Michael Saylor, said they are holding 75% of their balance sheet in Bitcoin, this has become more of a proxy to trade BTC price action value recently. I see a good potential options play here with an iron butterfly 12/18 expiry.
buy $290 call = $14.60
buy $290 put = $19.15
sell $320 call = -$9.25
sell $260 put = -$7.20
total = $17.30
Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
www.tradingview.com
