Research
Trade Setup 17 -1 Nov 2023
Delta Exchange
November 17, 2023
Sideways View on ETHUSDT Welcome to Daily Trade Setups. Trade:
- Buy 1900 Put option of 24 November expiry @ $25
- Sell (2x) 1800 Put option of 24 November expiry @ $10 each
Stop Loss: Spot level = $2050 Target: Spot level of $1800 Payoff chart at Expiry:
- Max Profit: $95/ETH
Rationale: ETH appears to be trading in a tight range, hovering between the support level at 1940 and the resistance level at 2100, which suggests a sideways trend in the short term.
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