Market Commentary von Patrick Heusser, Crypto Finance AG
I apologise for the delayed market commentary today.
Unfortunately, (or fortunately, for me) nothing happened over the weekend.
The market was yet again fairly calm.
COVID-19 has returned to the spotlight, and some funny developments are happening in terms of the upcoming US presidential election.
US musician Kanye West had announced in a tweet his candidacy for the US presidential elections in 2020. Afterwards Tesla CEO Elon Musk joined the conversation and gave Kanye West his "full support".
You have my full support!
— Elon Musk (@elonmusk) July 5, 2020
Bet on the five day move?
For the brave, there is a nice product, where you can bet on a move over the course of five days. It's called MOVE and trades on FTX. E.g. the weekly contract MOVE-0710 has a starting price (or strike price) of 9,065 and currently trades at $365. You can buy this contract if you think the market will move more than $365 away from the strike price until its expiry on Friday at 00:00 UTC. Learn more here.