Strategy guides

Know the strategy. Master the income.

Two proven income strategies for crypto options traders — from your first covered call to running a full multi-strike Wheel. Pick your level and start learning.

Beginner

Covered Calls

The simplest income strategy in options. You own crypto, you sell someone the right to buy it from you at a higher price, and you collect the premium upfront — no matter what happens at expiry.

  • Step-by-step trading guide
  • Full risk breakdown with mitigations
  • How to roll positions
  • Complete glossary
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Intermediate

Cash-Secured Puts

Get paid to wait. Sell a put at the price you want to buy crypto. Collect premium every cycle. If assigned, you acquire the asset at your target price — with a lower cost basis than buying outright.

  • 6-step entry and rolling guide
  • Worked BTC example trade
  • Market scenario analysis
  • Full risk breakdown with mitigations
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Intermediate

Wheel Strategy

A continuous income cycle using multiple strikes. Sell covered calls when you hold crypto. Sell cash-secured puts when you don't. Collect premium at every stage — the wheel never stops turning.

  • Multi-strike mechanics explained
  • All phase transitions (calls → puts → calls)
  • Market scenario analysis
  • Full risk breakdown with mitigations
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Intermediate

Calendar Spreads

Sell a short-dated option and buy a long-dated option at the same strike. Collect the difference in time decay every week or month — for as long as you hold the long leg.

  • 7-step entry and rolling guide
  • Worked BTC example trade
  • Market scenario analysis
  • Full risk breakdown with mitigations
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Advanced

Advanced Strategies

Ten multi-leg strategies for experienced traders: married put, bull/bear call spreads, bear put spread, protective collar, long straddle, long strangle, butterfly spread, iron condor, and iron butterfly.

  • 10 strategies with full mechanics
  • Risk/reward profile for each
  • Worked examples throughout
  • Searchable glossary
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Intermediate

Directional Leverage Perps

Take leveraged long or short positions on crypto with no expiry date. Learn how to size positions correctly, manage leverage, account for funding costs, and protect yourself with stop-losses.

  • 8-step entry and management guide
  • Worked BTC long example with full P&L
  • Funding rate impact explained
  • Liquidation and leverage risk breakdown
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Intermediate

Grid Trading Spot

Run an automated spot grid bot on Binance that profits every time the price oscillates between levels. No leverage, no liquidation — systematic income from volatility in sideways markets.

  • 7-step Binance setup guide
  • Worked BTC/USDT example with fee analysis
  • Arithmetic vs geometric grid explained
  • Range selection and risk management
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Advanced

Grid Trading Perps

Apply grid trading logic to perpetual futures on Binance. Higher capital efficiency and the ability to profit in falling markets — with leverage, liquidation risk, and funding costs to manage.

  • Neutral, long, and short grid modes
  • Spot vs perps comparison table
  • Liquidation price and stop-loss setup
  • Funding rate impact and management
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Put it into practice

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How The Pros

Learn to generate consistent income from your crypto holdings using professional-grade covered call strategies — powered by live Deribit data.

Risk Disclaimer: Trading and investing in cryptocurrencies and derivatives involves substantial risk of loss and is not suitable for all investors. Covered calls and other options strategies can result in significant losses. Past performance is not indicative of future results. How The Pros provides educational content only and does not constitute financial advice. Always consult a qualified financial advisor before making investment decisions.

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