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【BMNR: Treasury big pump + consecutive stock price rise, how can we still play with such high IV?】
$BMNR This wave is really fierce. Last night, it peaked at 70 during the trading session, directly rising nearly 50% within a week. The latest disclosed ETH treasury has already soared to 1.15 million coins, which is approximately 4.96 billion USD at market price, continuing to firmly hold the title of the largest ETH treasury in the world.
Bloomberg reported that due to Tom Lee's Korean identity, BMNR has become one of the hottest U.S. stocks among Korean retail investors. Its name appears almost daily on the pre-market leaderboard, and its liquidity has already stabilized.
The options market is more lively here: the 30-day IV is around 156%, with an IV Rank as high as 86%, which is not cheap; the contracts expiring this week have an implied volatility exceeding 200%, corresponding to an expected volatility range of about ±11 dollars; yesterday's total trading volume was over 470,000 contracts, with a Put/Call ratio of 0.5, indicating a still bullish sentiment.
In this situation, purely pursuing long Call carries a high risk, but such high volatility also provides good time value for the sellers.
Several ideas:
1️⃣ Neutral rent collection: Sell 48P / 70C expiring on 8/15, while buying protective legs 40P / 80C, creating an iron condor, keeping the range within ±$11, and profiting from the volatility pullback.
2️⃣ Focus on long positions and controlling costs: Create a 65C calendar spread from 8/15 to 8/29, sell the near-week high IV, buy the far-week low IV, and wait for the stock price to gradually approach 65.
3️⃣ Moderate bullish: Sell a 50/45 bull Put spread expiring on 8/22, leave some safety margin, earn time value.
Risk Points: The market trend of BMNR is completely driven by news and sentiment. The price of ETH and announcements of increased holdings could trigger another wave of volatility. Those shorting the volatility should monitor the market closely and roll over or hedge in a timely manner if necessary.
💬 How long do you think BMNR can rise? Is it more profitable to go long on volatility or to harvest volatility? Let's chat in the comments. #ETH🔥🔥🔥🔥🔥🔥