Bitcoin SkimmingLarry Benedict’s latest tease, Bitcoin Skimming, is evidently an item with a 12 digit code that can be traded in a regular brokerage account. It’s peaked my curiosity. I know they are not bonds, which have 9 digit CUSIPs. Anyone have a clue what he’s hawking?
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Im now guessing the 12 digit code is an option of a stock with a 3 letter symbol. So that eliminates Microstrategy which is MSTR
What makes you surmise that it’s a stock with a 3-letter symbol? My first thought when viewing the presentation was that it was likely BITO.
I watched the presentation, they sent me a code trying to entice me to join. BITO230818C00017000
That is a Call option for 8/18/23 with a strike price of $17 on BITO stock, a Bitcoin ETF.
Please confirm how the code is used in options trading
I have just seen the light – thanks Lori
I suspect he is using the Bitcoin ETF (BITO) which trades as a stock, which also happens to be optionable.
I was pretty sure he was hinting at an August expiration call option on BITO. I plunked down some $$ on the 16 strike price & it is now under water with just 1 week to go b/4 expiration. As a hedge I also sold a put w/ a strike price of 15. Looks like I’m going to be out about $400 for my trouble. I may try to roll the calls, as bitcoin will undoubtedly shoot up again in ’24 when the next halving occurs.
Is Bioelectronics Corp . involved in a merger or acquisition woth Viant Medical?
He gave a new presentation on Jan 24. And yes, you are basically buying BITO options based on which way you think the Bitcoin price is going. You can either do this for free, just like any other option trade, or
you can give him $1950 “to test drive my Opportunistic Trader for a year” — of course you get other reports and tips during the year, and hostess Kim Moening said the cost is normally $4000 a year.
It’s just odd because to me “bitcoin skimming” sounds so suspicious, but its a single word used in place of saying “call and put trading”.
The latest code, which it took him 36 hours to provide, is BITO240315P00020000 “and is extremely time sensitive. You must use it this morning”.
So that one would be a Put option for 03/15/2024 with a strike price of $20 on BITO stock .
Feb 22 This is not working out!