Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Speaking on Bloomberg Markets, Kevin Kelly of Recon Capital Partners suggested that investors with a long position in Utilities SPDR (ETF) (NYSE:XLU) should consider an options strategy that offers protection ahead of the FOMC meeting.
Kelly explained that the implied volatility in the name is 12 percent and it was 18 percent the last time Fed raised interest rates. He thinks that options are cheap and he wants to buy the July 53 put for $0.72. The trade breaks even at $52.28 or 2.68 percent below the current stock price.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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