Although blockchain mining enterprise Riot Platforms (RIOT) wasn’t the most remarkable options play for last Friday’s market session, it’s unavoidable that much attention has been paid on RIOT stock. While it’s obviously not a direct cryptocurrency investment, as one of the biggest miners – currently sporting a $2.03 billion market capitalization – Riot commands massive influence.
Further, while the derivatives market generally provides a great read on the possible strategies being deployed by the smart money and institutional investors, the options space for cryptos is far less fleshed out than it is for U.S. equities. For example, the liquidity just isn’t quite there yet. Thus, analyzing the derivatives arena for publicly traded blockchain companies may give a better read on smart money/institutional sentiment.
