My friend has a rather large store of bitcoins that he bought about a month ago. I think it makes sense for him to hedge his recent gains, since the price run up looks like a bubble.
What is a high leverage way of doing this?
I looked at ICBIT but the counter-party risk in the face of a market blowup is large.
I was thinking Intrade, but they are apparently blowing up. Settlement in fiat preferred. My friend lives in the US.