Research
Trade Setup 31 Oct 23
Delta Exchange
October 31, 2023
Sideways View on BTCUSDT Welcome to Daily Trade Setups. Trade:
- Sell Call Spread - BTC - 35000 - 35200 - 1 November expiry at 30$
Stop Loss: Spread Premium of $60 Target: Spread Premium of $0 Payoff: Max Profit: $30/BTC Max Loss : $30/BTC
Rationale: Following a notable price increase in the previous week, Bitcoin is presently confined to a tight trading range, encountering resistance around the $35,000 mark. Enhancing the probability of this scenario, there is notable open interest (OI) in the $35,000 call options.
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.