The $1,500 call option fails to judge the market and is too optimistic. When the profit is $3,000, you should reduce your position, let alone increase your position at a high point. Dare to miss it and don't lose money.
The loss this time was mainly due to a misjudgment in the middle. I added positions at US$47,000 twice. The market subsequently fell to US$38,000, and the options became useless paper.
I re-purchased call options at the lowest point of 40,000 US dollars. The option selection is more reasonable and I am currently slightly profitable. You can buy up to 0.5 subsequent options, which are divided into two price ranges. The exercise price and expiration date should be reasonable, 2 months, 4 months, 3 months, or 6 months. When there is a sharp increase, you must reduce your position to reduce the profit return. Don’t be FOMO about the risk of withdrawal. You would rather miss it than keep your principal.
Update on February 11, 2024: Bitcoin call options have basically paid back their money.
