It’s turning out to be a boring summer for directional traders in the bitcoin market: The cryptocurrency has gone comatose in a narrow range above $30,000, less than half the all-time high reached just two months ago.
But some options traders are busy as ever, taking relatively high-risk strategies to profit from the cryptocurrency’s continued price consolidation. One of those strategies involves putting on “short strangles,” essentially a bet that bitcoin’s price won’t break…
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