Sideways View on BTCUSDT
Welcome to Daily Trade Setups.
Trade:
<ul>
<li>Sell  41000 PUT option of 7 February expiry @ $60</li>
</ul>
Stop Loss: Premium = $120
Target: Premium = $0
Payoff chart at Expiry:
<ul>
<li>Max Profit: $60/BTC</li>
</ul>
<img loading="lazy" decoding="async" class="aligncenter wp-image-34454 size-large" src="https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.18.01-AM-1024x630.jpeg" alt="" width="525" height="323" srcset="https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.18.01-AM-1024x630.jpeg 1024w, https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.18.01-AM-300x185.jpeg 300w, https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.18.01-AM-768x473.jpeg 768w, https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.18.01-AM-24x15.jpeg 24w, https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.18.01-AM-36x22.jpeg 36w, https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.18.01-AM-48x30.jpeg 48w, https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.18.01-AM.jpeg 1196w" sizes="(max-width: 525px) 100vw, 525px" />
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.
<img loading="lazy" decoding="async" class="aligncenter wp-image-34456 size-large" src="https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.19.32-AM-1024x485.jpeg" alt="" width="525" height="249" srcset="https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.19.32-AM-1024x485.jpeg 1024w, https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.19.32-AM-300x142.jpeg 300w, https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.19.32-AM-768x364.jpeg 768w, https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.19.32-AM-24x11.jpeg 24w, https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.19.32-AM-36x17.jpeg 36w, https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.19.32-AM-48x23.jpeg 48w, https://prod-wp.delta.exchange/wp-content/uploads/2024/02/WhatsApp-Image-2024-02-05-at-10.19.32-AM.jpeg 1330w" sizes="(max-width: 525px) 100vw, 525px" />
Disclaimer: This report must not be used as a singular basis of any trading decision. Please refer to <a href="https://www.delta.exchange/research-disclaimer">https://www.delta.exchange/research-disclaimer</a> for analyst disclaimer and other disclosures.

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


Trade Setup 5 Feb 2024

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