BTC does not have a good option market. I think only one or two anonymous exchange are trading their option chains at a very expensive rate since BTC or XBT is very volatile. Their liquidity is also very bad. I personally just do BTC futures (XBT) on bitmex, some alt coins trading on binance and some BTC/USD trading on Gdax. This is my high-risk gambling portfolio. Basically, I see BTC as the stock for the whole blockchain market. The risk and rewards are both very high. However, this market now is a highly manipulated market by some whales. Below is what happened yesterday. A quick pump and dump in 1 hour. Both long/short trades with high leverages got liquidated.