According to ChainCatcher, 10x Research recommends selling out-of-the-money (OTM) call and put options related to Bitcoin while holding Bitcoin in the spot market.

10x Research said: “BTC investors looking to generate additional income in addition to spot market holdings should consider developing a ‘covered straddle’ options strategy. Our favorite strategy is to buy spot Bitcoin, sell a $100,000 strike call, and sell a $50,000 strike December 2024 put. The yield on the call is 11%, and the yield on the put is 6%. Therefore, this strategy provides us with a 17% downside buffer or 17% additional yield, depending on the December BTC closing price, and we will capture all of the upside (or downside) value in Bitcoin.”