For BTC holders, Bitcoin covered calls turn a range-bound market into a yield opportunity. Hypothetically, BTC at $65K spot and 40% expected volatility: ↳ ~22% annualized yield ↳ Breakeven near $58.5K ↳ Higher returns than spot up to $72.5K More on Bitcoin income from @LowBeta on The Stack: https://www.grayscale.com/the-stack/earning-bitcoin-option-income-in-the-range(Grayscale)