Research
Trade Setup 30 Oct 23
Delta Exchange
October 30, 2023
Sideways View on BTCUSDT Welcome to Daily Trade Setups. Trade:
- Buy 36000 Call option of 1 November expiry @ $125
- Sell 33000 Put option of 1 November expiry @ $125
Stop Loss: Premium = $240 in each leg Target: Premium = $10 in both legs Payoff chart at Expiry:
- Max Profit: $250/BTC
- Max Loss: $230/BTC
Rationale: Bitcoin (BTC) is currently engaged in a highly constrained trading range, fluctuating within the narrow band of 33,230 to 34,500. The price is stuck between these pivots making it sideways on short term bias.
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.