【BMNR/SBET Double Kill: How to Seize Opportunities with Options?】

Last night, BMNR and SBET fell by 8.86% and 8.82% respectively, following the overall correction in the cryptocurrency concept. However, from a fundamental perspective, neither company suddenly weakened: BMNR announced a $1 billion buyback and still holds over $2.7 billion in cryptocurrency assets; SBET updated its holdings to 438,000 ETH and has restarted ATM financing.

Options data also reveals divergent signals. SBET's implied volatility remains at 151%, but the IV Rank is only 13.7%, with buyer Vega costs having declined; although BMNR's trading volume has increased to an average of 182%, the Put/Call ratio is only 0.73, indicating no panic sentiment.

Possible options strategies include:

➢ If betting on a rebound: SBET may consider a 22/27 bull spread expiring on 8/8, requiring a small investment with a clear risk-reward ratio.

➢ If expecting a range-bound market: BMNR could sell a straddle expiring on 8/15 at 30/40 to collect premiums, needing to manage margin and tail risk.

➢ If already holding spot: SBET can use an 8/22 20 P for protection to lock in downside risk.

After the decline, there are still opportunities; it just requires more careful rhythm and combination strategies. #OptionsTrading