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Weekend Note
QCP Capital2024/06/08 07:46
By:Sue Ann Sim
- Vols have been absolutely crushed after ETH spot ETF approval this week in spite of prevailing catalysts:
1. Bearish BTC – potential supply from Mt. Gox distribution (~$9.6b) and also from DMM hack (~$305m)
2. Bullish ETH – ETH spot ETFs could start trading earlier than expected in June with the SEC urging applicants to submit S-1 forms by 31 May - A sleepy market may get caught offside and our bet is on the bullish side, particularly for ETH.
Trade Ideas:
ETH Sep KIKOs (Knock-In, Knock-Out)
Sell 3000 Put w 2500 Knock-in (protection)
Buy 4500 Call w 6200 Knock-out
Cost: ZERO
Max payout: 175% pa or $1,700 USD per ETH if spot expires just below 6200)
Downside: At expiry, if spot is below 2,500, you buy ETH at 3,000.
(Spot ref: 3780 )
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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