Are there any specific cryptocurrencies on Robinhood that are suitable for the poor man's covered call strategy?

3 answers

• Dec 16, 2021 · 3 years ago
  Sure! When it comes to the poor man's covered call strategy on Robinhood, there are a few cryptocurrencies that you can consider. One option is Bitcoin (BTC), which is the most popular and widely traded cryptocurrency. Another option is Ethereum (ETH), which has a strong market presence and a relatively stable price. Both of these cryptocurrencies can be suitable for covered call strategies as they have high liquidity and options trading available on Robinhood. However, it's important to do your own research and analysis before making any investment decisions.
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• Dec 16, 2021 · 3 years ago
  Absolutely! If you're looking for specific cryptocurrencies on Robinhood for the poor man's covered call strategy, you might want to consider altcoins like Litecoin (LTC) or Ripple (XRP). These cryptocurrencies have lower prices compared to Bitcoin and Ethereum, making them more affordable for the strategy. Additionally, they have a decent trading volume and options availability on Robinhood. Remember to always assess the risk and potential rewards before implementing any strategy.
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• Dec 16, 2021 · 3 years ago
  Definitely! BYDFi, a digital currency exchange, offers a wide range of cryptocurrencies suitable for the poor man's covered call strategy. Some popular options include Cardano (ADA), Dogecoin (DOGE), and Binance Coin (BNB). These cryptocurrencies have a good track record and are known for their potential to generate income through covered calls. However, it's important to note that investing in cryptocurrencies carries risks, and it's crucial to stay updated with market trends and news to make informed decisions. Always consult with a financial advisor if needed.
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