Options #3 Update (up 10x returns)
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It’s been a long time since I made an update on my options portfolio.
In this post:
I will show my updated options portfolio &
When I plan to sell these options
🗂️Updated Options Portfolio:
Here is summary of what changes since my last update:
Sold the BITO calls at a loss of $2,000. BITO started paying dividends. Turns out that this is not good for the option price. At that time, Spot bitcoin ETFs are not yet live and MSTR options are expensive because MSTR hasn’t done a split yet. I remember that to buy the MSTR leaps that I want, I will be needing $80,000. That’s why I bought BITO leaps instead, turns out they were a bad vehicle to use if you are looking to buy LEAPS to bet on bitcoin’s price.
Bought IBIT $55 calls - Spot bitcoin ETF options are now live. Bought this one as additional bet on bitcoin’s price on top of my main options which are MSTR LEAPS.
Bought MSTR 550 June 2026 calls - Technically I sold MSTR shares and swap those shares for this call. This is not a new investment. I just swap MSTR shares into MSTR leaps as part of my plan.
Ignore the RUM call, it’s just an speculation on my part and it’s less than $1,000. The negative CLSK call is a covered call I am practicing on some miner stocks. The negative MSTR 1000 call is a poor man’s covered call against my leaps. Pretty much ignore those three and focus on the MSTR long term calls if you want to understand what I am doing.
🤔When do I plan to sell
Unlike bitcoin or MSTR shares that you can hold forever if you want, you do have to sell MSTR call options. Because they have expiry date.
I have total 3 MSTR leaps.
I plan to sell 1 when MSTR hits $600
I plan to sell another one when MSTR hist $1,000
Then the last one, I will sell it close to expiration date.
I haven’t decided also yet when I will sell the IBIT call.
Originally, I did plan to sell when MSTR hits $1,000 but I’ve already lowered my target to $600 because I need some money to pay down some debts.
🚀MSTR price action
As you can see, my MSTR call options have done very well especially the Jan16 2026 $300 call & Dec19 2025 $380 call:
Here is the value of these two call options in my last update last September 2024:
The point of showing this is not to brag and to say that I am smart.
I don’t view myself as smart. The point I’m trying to make is that there are opportunities in the market if you know where to look.
This is also not a way to say to copy trade me. I don’t sell anything. I don’t have subscriptions or anything. I do this for free.
The point of writing all of this is I just want to share valuable information that I find on the internet that can translate to investment gains.
Because if you are like me, I don’t want to work forever, I want to grow my money so I can have the option in the future to retire early.
I am not also saying that my investments will be 100% correct. I am not an expert. I just share my reasons and rational on why I am buying bitcoin and why I bought MSTR call options. If you miss that please read this post
Please also note that I am not buying any more MSTR call options here. They are now expensive in my opinion.
The best time to buy them was 2 years ago. Like I said, I just got lucky on the timing last Sep 2024.
I originally, wanted to buy MSTR call options last March 2024, however they were too expensive as I mentioned before. The stock splitting in August 2024 allowed me to buy the options.
I took loss also on my other option position like BITO call options so my positions are not always right.
📚Where to learn options?
Here is a tweet from X showing resources on where to learn options: https://x.com/btc_overflow/status/1880010930269880585
I agree with almost all the resources included in that post, so if you are interesting on learning about options. I suggest looking into those resources.
I will be sharing more in the future what I am planning to do and how I will utilize other option strategies during the bull market and bear market.
I will also share If will buy new call options. I probably won’t buy any new more long calls or leaps until the next bear market if we will have one.
That’s it for this post. Hope you find this valuable.
Thank you for reading!
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