[joezydeco]

So what keeps one of the so-called "whales" with massive balances from buying a huge amount of put orders and then tanking the market with a huge afterhours sell just before the execution date?

Buy the coins back at the depressed price, and you could do this every month like clockwork.

[HankB99]

(Not a trading whiz.) Is there anything in this strategy that would prevent any other trader from piggybacking on the swings and making money? I could it see it working the first month but I think a lot of other traders (perhaps with better trading equipment - think HFT) would be prepared and could split the available profit in subsequent months.