Research
Trade Setup 18 Oct 23
Delta Exchange
October 18, 2023
Sideways View on BTCUSDT Welcome to Daily Trade Setups. Trade:
- Sell 29500 Call option of 20 October expiry @ $70
- Sell 27500 Put option of 20 October expiry @ $60
Stop Loss:
- C-29500 @140$
- P-27500 @120$
Target: 0 in both legs Payoff:
- Max Profit: $130/BTC
- Max Loss: $130/BTC
Rationale: On 1 hr time frame, price is respecting support area of 28100 and resistance pivot of 28700. Hence the price of BTC is sandwiched between 28100 and 28700.
Disclaimer: This report must not be used as a singular basis of any trading decision. Please refer to https://www.delta.exchange/research-disclaimer for analyst disclaimer and other disclosures.