Trade of the Week: RIOT

Trade of the Week
by Jay Soloff
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Last week in my 48-Hour Income service, we decided to pass on a trade in bitcoin mining company, Riot Platforms (RIOT).

In 48-Hour Income, the goal of the service is to generate 1% to 3% returns per week by selling 2-day puts in certain stocks.

RIOT met most of the criteria for one of our usual trades, but the uncertainty around the launch of spot bitcoin ETFs has made bitcoin-related companies very risky.

We decided to pass on making this trade (and other similar trades) until we could see the impact of the new ETFs.

Author: Jay SoloffJay Soloff is the Options Portfolio Manager at Investors Alley. Jay is also the editor for 48-Hour Income, Options Insiders, and co-editor of Weekly Income Accelerator and POWR Income with Tim Plaehn. Prior to joining the online investment world, Jay was a floor trader and market maker on the CBOE, the world's largest options exchange. His experience includes trading a multi-million dollar options portfolio in equities options as well as serving as a consultant to Wall Street options trading groups. Jay also spent time as a senior analyst at a hedge fund of funds, where he analyzed professional options funds as well as traded option strategies for hedging purposes. All told, Jay has 20 years of options trading experience. He received his undergrad degree in Economics at the University of Illinois - Champaign, and his MBA and Master of Science in Information Management from Arizona State University.
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