After BTC breaks 80,000: Experts push for call option spread strategies

According to Woofun AI, the Bitcoin (BTC) market's rise to $80,000 for the first time attracted attention. In response to subsequent entry problems, industry experts are promoting a risk-controlled strategy of 'bullish option spread', which aims to balance potential returns with downside risks.

Deribit Chief Commercial Officer Jean-David Pequino said that before the Fed's policies and inflation factors were affected, the strategy was very attractive. He pointed out that long-term bullish option spreads allow traders to seize lower cost opportunities in price trends biased towards put options, and until September, this was still an effective mechanism for obtaining upward returns.

Notably, put options to protect against falling Bitcoin's price are currently still relatively expensive, and if the price hits $90,000, the risk exposure will change significantly.

Marcus Tilken, founder of 10x Research, suggested buying Bitcoin while selling a September call option with a price of $90,000 to take advantage of high implied volatility to reduce risk; another option is the September bullish option spread at $85,000/95,000. BlackRock (BLK.US) pointed out that America's fiscal problems have brought benefits to assets such as Bitcoin and gold, and is expected to achieve the biggest monthly increase since 2024.

However, according to Woofun AI, Coinglass data shows an average return of negative 3% in September since 2013, and historical performance is slightly bearish.

Since August 15, Bitcoin's spot price has risen in sync with the 30-day implied volatility index BVIV, reflecting increased market demand for options. As derivatives, options have an implied volatility determined by market demand. Deribit data shows that institutions buy long-term put options to prevent downside risks, while short-term traders buy call options to try to profit from the current price rebound.