Too bad you did not buy a lottery ticket instead: anybody that lucky should try to capitalize on that! Bitcoin was trading about 85 - 85,000 before the mostly meaningless announcement by Trump, when it jumped to about 97.000. No mention of when, nor how Gov't would pay for the coins, nor if there would be enough idiots in Congress to vote for it -- although that seems the easiest hurdle. Repeating the same method of looking for a big price advance in a similar set-up to MSTR from Friday would likely result in loss 80% + of the time.
Sold a naked call on BITX in the early morning...so far so good. Will buy it back when bitcoin is back under 80k
He sold the call for more than $8 and it was 2.3 out of the money. So it was >$10. Not 11.I am not talking about the loss but max gain in the position. He has improved his cost basis, if assigned, by nearly $11 per share. @zdreg, I don't really know what you're talking about.
If his stock position turns into a loss below 252.3 he has $8 of additional protection before losing money in his account. You have to consider the possibility.
I stated simply that if he's assigned which is how I arrived at the nearly $11. He is unlikely to get assigned on an out of the money call. Maybe give what I wrote a second look as you clearly did not understand it. The American education system is fascinating.