With Bitcoin (BTC) kicking off the seasonally bullish October on a strong note, rising to record highs above $126,000, traders who missed the early rally might be feeling the urge to jump in.

If that latecomer’s FOMO, or fear of missing out, has struck, here are some bullish BTC option plays favored by analysts that might be worth considering to ride the wave smartly.

Call spreads

Markus Thielen, founder of 10x Research, prefers buying higher strike out-of-the-money (OTM) calls or call spreads.

"Buying 1–2 month out-of-the-money (OTM) calls or call spreads (for example, $130,000/$145,000) allows traders to participate in further upside without overpaying for implied volatility," Thielen said in a note to clients Monday.

A call option gives the purchaser the right, but not the obligati

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