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I too play IBIT options now.

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Chewie

BTC ETN legal for UK since Oct 8th but none available on platforms yet.

B

James when you say that. Are you selling puts on ibit?

samsepi0l

Like clockwork we dump again

Muchengo

I asked GROK what Deribit was and this is the response. I hope it answers some of the questions. Deribit is a leading centralized cryptocurrency derivatives exchange specializing in options and futures contracts for major digital assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and others. It provides advanced trading tools, including up to 50x leverage on perpetual swaps (perps) and futures, with a focus on low-latency execution and deep liquidity for institutional and professional traders. The platform uses a maker-taker fee model, where makers (liquidity providers) receive rebates or lower fees, while takers pay up to 0.05% for futures/perps and a maximum of 12.5% of the option premium for options. Deposits and withdrawals are handled in crypto (no fiat support), with no deposit fees but network-dependent withdrawal costs. Founded in 2016 in the Netherlands by brothers John and Marius Jansen along with Sebastian Smyczýnski, Deribit relocated to Panama in 2020 to avoid stricter EU KYC regulations and is now headquartered there, with additional offices in Dubai, the Netherlands, and Poland. It caters primarily to non-U.S. and non-restricted jurisdiction users (e.g., blocked in the U.S., Canada except Quebec, Japan, and others due to regulatory compliance), and optional KYC is available for enhanced security and features like higher withdrawal limits. Deribit emphasizes risk management through cross-margining, an insurance fund for socialized losses, and automatic liquidation if positions fall below required maintenance margins. In August 2025, Deribit was acquired by Coinbase, integrating it into the larger ecosystem to expand global crypto derivatives access, following a record July 2025 with over $185 billion in trading volume and $60 billion in open interest. The exchange has earned accolades like "Best Exchange" from Hedgeweek and Forbes, and holds ISO 27001 and SOC2 certifications for security. While ideal for experienced derivatives traders hedging or speculating on crypto price movements, its pro-level interface and lack of beginner-friendly spot trading may overwhelm novices.

Muchengo

compliance), and optional KYC is available for enhanced security and features like higher withdrawal limits. Deribit emphasizes risk management through cross-margining, an insurance fund for socialized losses, and automatic liquidation if positions fall below required maintenance margins. In August 2025, Deribit was acquired by Coinbase, integrating it into the larger ecosystem to expand global crypto derivatives access, following a record July 2025 with over $185 billion in trading volume and $60 billion in open interest. The exchange has earned accolades like "Best Exchange" from Hedgeweek and Forbes, and holds ISO 27001 and SOC2 certifications for security. While ideal for experienced derivatives traders hedging or speculating on crypto price movements, its pro-level interface and lack of beginner-friendly spot trading may overwhelm novices.

Hobbit

I just added some BTC long to perps. This makes no sense on all the models but I feel that 120k is a support and we're mid Oct, without BTC chasing gold yet....so I'm pre-empting the market and looking to 1-2 mos out for PT.

Dash rip rock 81

James you mentioned previously IBIT options being expensive on Tradfi exchanges, are Derebit prices cheaper ?

C

MSTR is getting wrecked

Tazzer

Someone forgot to tell the market makers it’s supposed to be Uptober

Grand_Duke_Abigor

He did synthetic longs (sold Puts, to offset the cost of buying Calls). Check his trade alert post from last week

moondogg

Long liquidations. Rinse repeat.

Kevin Parsons

Handy news for binance ! A few big blocks taken again. Trump has ruined the weekend 😂

Hobbit

yep. But TSLA also....MSTR / TSLA ratio is slighly improved with the dump. I'm fine with TSLA going way down....very happy even.