Selling RIOT puts for income.
Riot Blockchain (RIOT) builds, supports and operates blockchain technologies.
The company is best known for its Bitcoin mining operation. But it also manages data centers, and engineers electrical products for blockchain technology.
After falling throughout the summer, cryptocurrencies appear to have found support. This could be very good for RIOT and help support company profits.
Investor confidence for crypto-related stocks is also improving. This sets up a great opportunity to collect income from shares of RIOT.
By selling the October $6.00 puts near $0.75, we’re able to collect an annualized yield near 77%, while also giving us roughly $1.50 per share in cushion between the current market price for RIOT and our strike price.
- Sell (to open) 10 RIOT October 21st $6.00 puts
- Limit: $0.75 or more
- 10:48 Executed
- Sold 10 RIOT October 21st $6.00 puts @ $0.84