Our BTC Cash & Carry positions performed flat last week. The combined PL of our ICE and CME trades now stands at $1,634 gross ($1,399 net). We are now 67 days into our ICE trade and 29 days into our CME trade. Trade history 22 Jun: Sell 2 July 2020 ICE Bitcoin futures contracts at [...]
We are all about liquidity at TwoQuants. However, when it comes to breakfast, we prefer steaming hot beverages and not things with little straw hats. For many European breakfast tables, the setting is similar and might include products for which actively traded agricultural commodity markets exist: bread (wheat futures), milk, coffee, sugar, orange juice. For [...]
“Gold is money. Everything else is credit.” J.P. Morgan, 1912 I think that’s a great quote. Old but gold, so to say. Now, more than 100 years later there’s Bitcoin. If gold = money, does that mean digital gold = Bitcoin, and does that therefore mean Bitcoin = digital money? I don’t know whether [...]
Our BTC Cash & Carry positions performed well last week as the BTC futures basis decreased on the back of falling spot prices. The combined PL of our ICE and CME trades now stands at $1,639 gross ($1,407 net). We are now 60 days into our ICE trade and 22 days into our CME trade. [...]
The combined PL of our ICE and CME trades was essentially flat this week and stands at $999 gross ($786 net). We are now 53 days into our ICE trade and 15 days into our CME trade. Trade history 22 Jun: Sell 2 July 2020 ICE Bitcoin futures contracts at $9,482.5 22 Jun: Buy 2 [...]
By now you may have read about our Bitcoin Cash & Carry trade, which is a non-directional trade aimed at exploiting the funding premium implied in Bitcoin futures markets. However, we are convinced that holding a directional long exposure in Bitcoin – maybe in addition to a Cash & Carry trade – is an [...]
Our BTC cash & carry trades performed very well this past week as the basis between spot und futures narrowed substantially. The combined PL of our ICE and CME trades amounts to $989 gross ($779 net). We are now 46 days into our ICE trade and 8 days into our CME trade. Trade history 22 [...]
Beauty is an important part of today's world. From a young age we are taught about physical features that are considered aesthetically pleasing or beautiful. According to Wikipedia, 'being beautiful' often implies attractiveness or desirability, but can also be distinct from either. In studies on facial attractiveness, symmetry has a positive influence on attractiveness [...]
After we observed a widening of the basis over the last weeks, we decided to add another BTC cash & carry trade, this time using the CME-listed futures contract. We switched our broker for this trade, which has the benefit are substantially lower margin requirements. Here are the trade details: 30 Jul: Sell 1 CME [...]
