I noticed an interesting story in the world of options trading. The quantum company TDX Strategies has rolled out a rather clever scheme for those who want to bet on a Bitcoin rise without large initial investments. The gist is that they offer a strategy called “bull risk-reversal” — it sounds complicated, but the mechanics are actually logical.

Here’s how it works. The trader sells out-of-the-money put options ( — that is, with a strike below the current price ) — and receives a premium for it. He immediately invests this premium into buying out-of-the-money call options as well. Essentially, you’re financing your bullish position with the income from selling insurance against a drop. The initial costs are minimal or even zero. A great scheme for stretching capital, if you know what you’re doing.

The company is counting on March–April as a window of opportunity. They look at geopolitical tension — specifically, the expected confirmation of Mojtaba Khamenei as Supreme Leader — as a tactical entry point. Any market fluctuations caused by news, they treat as a chance to form positions for a rise. A typical approach for quantum traders: use temporary weakness.

But there’s a catch, and it can’t be ignored. When you sell put options, you take on the obligation to buy Bitcoin at the strike price if the market falls below that level. That means you could acquire the asset at a price higher than its current market value. And high-strike call options might simply expire worthless if the rally doesn’t play out as expected. The trader exchanges low initial costs for an asymmetric outcome: limited upside potential and a significant risk of downside.

This strategy requires constant monitoring and is clearly not suitable for beginners. You really need to understand options dynamics, have sufficient capital, and be prepared for potential losses. This is already advanced trading for those who are ready to work with complex instruments.

By the way, an interesting moment: Bhutan has quietly gotten rid of most of its Bitcoins. About 70 percent of roughly 13,000 BTC they held in October 2024. Right now, they have only 3,954 BTC left worth approximately 280 million dollars at the current price of about 72.73K. It looks like the kingdom has slowed down or even stopped its hydroelectric-based mining. This shows that even long-term holders sometimes decide to exit when they spot certain windows of opportunity.

If you’re seriously interested in options trading and want to apply such a strategy, it’s worth starting with understanding the basic mechanics. A call gives you the right to bet on a rise, a put — on protection against a fall. By combining them correctly, you can create interesting risk-reward profiles. But that requires experience and discipline. Gate offers a convenient interface for tracking such positions, if you want to try.