Multi-Legged Options Strategies for Automated Trading

Professional traders don't just bet on price going Up or Down. They bet on Time and Volatility. Crypto Options (Deribit, Bybit) are exploding in liquidity.

1. The Covered Call (Income)

• Hold: 1 BTC.
• Sell: 1 Call Option at $120k.
• Result: You collect premium (cash) while you wait. If BTC doesn't hit $120k, you keep the cash AND the BTC.

2. The Iron Condor (Range)

• You bet that price stays between $80k and $120k.
• You sell options on both sides.
• Theta (Time Decay) eats away at the value of these options daily, putting money in your pocket.

Automating Complexity

These strategies have moving parts. Options expire. Strikes need rolling. Automating the Delta Hedging ensures you stay neutral to price moves and only harvest the yield.

Note: Options trading involves significant risk. Consult our Risk Management guide.