Research
Trade Setup 5 Feb 2024
Delta Exchange
February 5, 2024
Sideways View on BTCUSDT Welcome to Daily Trade Setups. Trade:
- Sell 41000 PUT option of 7 February expiry @ $60
Stop Loss: Premium = $120 Target: Premium = $0 Payoff chart at Expiry:
- Max Profit: $60/BTC
Rationale: The most recent movement in BTC suggests a potential temporary halt in the momentum, with noticeable retracements in play. Moreover, a recently established support has been pinpointed on the charts. Adding to our odds, high OI is also observed for 41k puts of 7 Feb expiry.
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.