As Bitcoin approaches $100,000, Cboe Global Markets plans to launch cash-settled index options tied to the price of spot Bitcoin. Starting December 2, the exchange will introduce the Cboe Bitcoin US ETF Index (CBTX) to offer a new way to access Bitcoin exposure through options.

Before that happens, MSTR is the closest link to the rise with BTC. The recent short by Citron claiming the stock has become untethered from Bitcoin's fundamentals has provided a great discount buy. Not doubt MSTR is overheated lately, there could be some room to go before BTC ETF is ready for options trading.

Hence, I decided to sell put at 260 strike as a strong support with 94% chance of keeping the premium for a week. Will MSTR retrace another 40% down to destroy my trade in the next 5 days? Well, just a calculated move to make some premium running the BTC fever before it subsides 🤒