Research
Trade Setup 27 Oct 23
Delta Exchange
October 27, 2023
Sideways View on ETHUSDT Welcome to Daily Trade Setups. Trade:
- Sell 1820 Call option of 28 October expiry @ $8
- Sell 1760 Put option of 28 October expiry @ $8
Stop Loss: P-1760 = $16 C-1820 = $16 Target: $0 premium in both legs Payoff chart at Expiry:
- Max Profit: $16/ETH
Rationale: Ethereum (ETH) is currently trading within a range bounded by 1850 and 1750, where these levels are playing vital roles as both support and resistance for the asset. Notably, the 1750 support holds significant importance, having solidified its status after breaking out a previous resistance/supply zone, effectively transforming into a robust support for the asset.
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