When traders want to bet on BTC or ETH upside or downside, the most common way is through buying or selling perpetual futures.
But perps carry liquidation risk, and even a small wrong directional move might trigger margin calls or force position reductions – making speculation stressful and capital-inefficient. Buying Call or Put Options, on the other hand, provide defined risk and no liquidation – you only pay a premium upfront, and that’s your maximum loss.
Thus Buying Options offer a cleaner alternative:
No liquidation risk, defined downside, and unlimited upside potential.
The only cost is the option premium, which represents the price of insurance for that risk control.
However – and this is where Coincall stands out – sometimes, that “insurance” becomes unusually cheap.
Real Market Example (BTC Spot ≈ 109,600)
Looking at this week’s BTC option chain on Coincall:
1-week calls between 114K – 118K strikes are priced around 36 – 39% implied volatility.The bid – ask spread is extremely tight – in some strikes, buyers even gain a 40 – 60 USDT positive spread when entering a position.
That means traders can establish a bullish exposure without paying spread cost, and in some cases even collect a small credit on entry.
In short – you’re getting long optionality cheaper than fair value, with zero liquidation risk.
Why Coincall Can Offer Such Prices
These opportunities exist because Coincall has its own unique trading flow – a dynamic mix of market makers, miners, institutional hedgers, algo traders, structured-product issuers and buyers and so on.
This diverse flow composition sometimes differs from the broader market, and when one side becomes dominant, certain strikes or tenors may temporarily display better prices than other venues, creating rare entry windows for traders to buy or sell options at unusually attractive levels.
In Summary
Sometimes, Coincall’s diverse market flow creates rare pricing pockets – e.g. moments when calls become so cheap that traders can enter positions with no spread cost or even a small positive carry.
At those times, buying a call becomes not just a safer way to speculate, but a smarter and more efficient way to express market views.
No liquidation risk. Defined downside. Sometimes even a positive entry – that’s evolved speculation.
Using Options for Speculation – and Why Coincall Sometimes Makes It Even Better was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.