Testing a Low Limit Price Options Strategy with BTC

Today I decided to experiment with a Put option order on BTC. I set the strike price at 90,000 USDT with an expiration date of November 29, 2024, but the interesting part is that I placed the buy limit price far below the current price, at 5500 USDT.

Why so low? Sometimes, when options approach their expiration, the market can become very volatile, and during those times unexpected opportunities often arise. The idea is to see if, at some point from now until the expiration date, the price drops enough to execute this order.

This is just an experiment; it does not represent a real risk to my portfolio, and the amount invested is minimal. I am doing this to better understand how this order function in options works, which we often overlook.

If the order gets executed, I will update this post with the results.

As an additional note, it only marked bearish since the objective of this option is for us to be below 77500 by the expiration date. My coins will remain in hold in the meantime so I don't miss out on a possible bullrun 🤑🤑