Just last week, a Sparrow user shared his profitable trade with our Telegram community -
- User bought a Put on 1 BTC with Strike Price at $9,750
- Settlement Date was on 27 September 2019
- The cost for making this position was 210.93 SP$ (Premium Payable)
- BTC settled at $8,056.2
- Pay off at the end of settlement was 1,693.8 SP$


What’s his profit?

[ (Strike Price — Settlement Price) — Premium Payable ]

[ (9,750–8,056.2) — 210.93 ]

= $1,482.87

The cost of the trade was just 210.93 SP$, for a payoff of 1,693.8 SP$. That’s over 8x profit!

Now who says you can’t win big in a bear market?