Metaplanet earns 23.97 BTC by selling 223 put options, enhancing its financial position.
The transaction boosts Metaplanet’s Bitcoin holdings to 530.717 BTC with a high annualized yield.
Metaplanet aims to increase its Bitcoin reserves if market conditions align with the strike.
Metaplanet Inc. has sold 223 Bitcoin put options to QCP Capital, a Singapore-based digital asset trading firm. This transaction led to the generation of a total premium income of 23.97 Bitcoin (BTC), allowing Metaplanet to strengthen its financial position and increase its Bitcoin holdings.
*Metaplanet sells $BTC put options, earns 23.97 $BTC in premium income* pic.twitter.com/w8qO0fifr1
— Metaplanet Inc. (@Metaplanet_JP) October 3, 2024
Read also :Metaplanet, ‘Asia’s MicroStrategy,’ Boosts Bitcoin Holdings to 400 BTC
The sale of these put options, all with a strike price of $62,000 and an expiration date of December 27, 2024, helped in profit making. The sale price was 0.1075 BTC per contract, resulting in a total premium of 23.972 BTC, or about $1.47 million at current Bitcoin prices.
The nominal yield for this transaction is 10.75%, while the annualized yield is 45.…
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