Trade update - Holding SOL futures at heavy loss. Platform : Bybit
Date and Time : Dec 23, 2024 2pm. Holding SOL futures at 1100$ loss. Also loosing a small amount as funding fee every day. 2 years back, during my first attempt at crypto trading, I would have been nervous at this point. But today, I am a much improved trader and completely at peace with this. The original idea was to hold the futures for long term anyway, and collect regular income from selling covered calls. I am earning around 100$ per week at the moment, which could go down if SOL slides further. I still have some capital left to bring the futures average price down, which I will consider after watching for a week. The only risk I have to worry about is to avoid liquidation. Currently its very far at around 75$, I don't need to worry..but later I might consider buying a put option as an insurance. The other challenge is reduced premiums from covered calls if SOL slides down further. I can bring the strike price down, but then I am not really comfortable sell...
