IBIT
iShares Bitcoin Trust ETF
stockNASDAQETF

I made a good chunk of money selling near ITM covered calls on IBIT 🤡

Fair hit on the title. The files only count coins going in and out of the fund. IBIT shares change hands on the exchange all day without a coin moving, so the files can't say who sold in June or who bought after. "Holders" there really means the fund as a whole, and the $81,136 is the average cost of the coins it holds now, not what any one person paid.

The timing fits that. Going by IBIT's daily files, 18 of its 20 biggest inflow days since launch came after a week in which BTC had already risen, about 10% on average, and all 20 of its biggest outflow days came after a down week, about 6% on average. Whether those buyers were writing calls against the shares or just chasing the move, the files can't say.

BlackRock's IBIT holders sold 56,800 BTC near $63K in June, then bought 78,000 back near $77,600. Their average cost is $81,136 a coin, so they're about 6.5% under water now.

IBIT and UTES

I'm sorry but that's not how ETFs work. The shareholders in the ETF own the underlying asset, the seller of the ETF is the custodian that collects fees for managing the asset. IBIT (blackrock's etf) in and out flow is controlled by people like me and you buying and selling shares of IBIT. Blackrock has 0 direct exposure to BTC swings as they own 0.

Blackrock owns 0 BTC. They are custodians of an ETF they sell to the public. The IBIT shareholders own the BTC, blackrock just collects custodial fees.

The headline reads like BlackRock decided to dump, but spot ETF flow prints are mostly authorized-participant create/redeem against investor share demand. When people sell IBIT or FBTC, APs redeem and the underlying BTC hits the market again. Real supply pressure, just not a PM waking up and market-selling the trust. Largest weekly outflow in ~19 weeks fits a risk-off week better than a thesis flip. Flows have been noisy since launch, with big days both ways, and they usually follow price rather than lead it. Handy as a coincident pressure gauge, weak as a standalone timing signal.

That’s not how IBIT works at all

Own a little bitcoin in self custody across multiple wallets, some on exchanges, some in Strike, some in cash app, MSTR, IBIT, FTBC. Super diversified.

S&P, BTC spot and IBIT.

https://preview.redd.it/djobierhh40i1.jpeg?width=827&format=pjpg&auto=webp&s=4bb3632fb94248832198668b4f447c388501c7b5 Strange memories on this nervous night in r/thetagang. Five years later? Six? It seems like a lifetime... 2026 YTD: **$55,400** profit on GME This is based on starting the year selling 60 contracts and working up to 100 (pretty sure I added some capital along the way). 100 makes the math easier. Taking the average for the year, I was using about 150k in capital, so let's call it a **33%** gain. All in a Roth IRA. Compare to: SPY YTD: +7.63% GME YTD: +21.82% QQQ YTD: +7.01% NVDA: -2.20% I've done a few posts during this wild ride. This account is kinda new, but I YOLO'd my life savings into GME in 2020 before the mania (thanks WSB), about 40k. Think I secured about **120k** buying in the single digits and teens and selling at \~$88. This was all pre-split. Missing out on selling at \~$250 really fucked with my head though. I switched brokers, didn't touch game until 2024. Deleted my reddit account. 2024: discovered thetagang. Made **$31k** on GME. Tried a bunch of other tickers. Some are dead, some I should have just bought and held (SAVE, PSNY, LUNR, NVDA, PLTR, CLMT, IBIT, OPEN). Looking back on it, I didn't know anything, just read some article or saw some post and went for it. No edge at all. 2025: basically only GME at this point. Made **$55k**. Did some aggressive plays, like selling OTM puts assuming it would recover. I like these, and all short put plays as they provide a natural exit when they work out. That's it. \~**$250k** from Gamestop, hundreds of trades. I don't believe in MOASS or anything, but I believe in the madness of crowds because I went mad with them. I can't stop checking this stock and following all the twists and turns. It's an addiction. I do stop when the value goes too high (mid-twenties for now). This has worked every time. And selling puts into every dip has worked too. It's a crazy feeling, like going all in at poker over and over. Last thing. Selling options is selling insurance. We sacrifice the upside and take the risk of the downside. Finding an edge vs the market's valuing of risk is incredibly hard and that's why you almost never see a post on here with gains better than just buying and holding the underlying. Then we get wrecked on the correction. It's not better than WSB if you're in the same stocks without a net. Good luck out there.