IBIT Options Ideas: Selling 15-Delta Puts (Education)
A simple, rules-based way some investors try to earn income from bitcoin ETF options. This page explains the idea. It is not a recommendation.
The example rules
What our backtest showed (model only)
We modeled these rules on IBIT-style bitcoin history. The model averaged about $229 a month per $10,000 set aside. That is a model result, not real trades. It uses estimated option prices, not actual fills, and past results do not predict future results.
The main risks, in plain words
- A sharp bitcoin drop can turn a small, steady income into a large loss in days.
- With a cash-secured put you may end up owning IBIT at the strike price, well above the market.
- Spreads cap the loss but also mean a full loss of the spread width is possible.
- Bid-ask spreads and early assignment can cost more than you expect.
FAQ
What is a 15-delta put?
A put option whose delta is about 0.15. Very roughly, the market is pricing about a 15% chance it finishes in the money at expiration. It sits well below the current price.
What does 40–50 DTE mean?
Days to expiration. You sell an option that expires in about 40 to 50 days, which is the range many option sellers use to collect premium while time decay works for them.
Is $229 a month per $10,000 guaranteed?
No. It is the output of our historical model, not real trades, and it does not include every cost or every bad stretch. Real results can be much lower, and you can lose money.
More options ideas and a live IBIT strike finder are planned.