Long Puts (Buying Puts)

Buying a put option from the trade page results in long puts.
An ideal strategy if you are bearish about a crypto asset and want to leverage the falling prices.
Example: Suppose you have $30,000, and ETH is currently trading at $5,000. You can buy 6 ETH at the current price. Let us suppose by the end of next month ETH is down by 15%, i.e., ETH price now is $4250, then you make a loss of $4,500 ( $25,500 - $30,000).
Now let's use options; in this case, instead, you bought ETH puts at $5,000 expiring at the same time, you paid $300 per option. You can get 100 options for this price. Ignore all trading fees; this means with a 15% decrease, you get $45,000 as profit. You can hedge your positions using this mechanism.
Total Investment
$30,000.00
Current Stock Value
$425,000.00
Strike Price Value
$500,000.00
Options Status
In The Money
Total Profit
$45,000.00
Your max loss when buying long puts is always the premium you paid - when your asset price is above the strike at expiry. Your max profit is theoretically infinite.