Research

Sideways View on BTCUSDT Welcome to Daily Trade Setups. Trade:<ul><li>Sell 36600 Call option of 7 November expiry @ $45</li><li>Sell 33600 Put option of 7 November expiry @ $45</li></ul>Stop Loss:  P-33600 =  $90 C-36600 =  $90 Target: $0 premium in both legs Payoff chart at Expiry:<ul><li>Max Profit: $90/BTC</li><li>Max Loss: $90/BTC</li></ul><figure class="kg-card kg-image-card"><img src="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.16-AM-1024x462.jpeg" class="kg-image" alt loading="lazy" width="525" height="237"></figure>Rationale: BTC appears to be trading in a tight range, hovering between the support level at 34,300 and the resistance level at 35,300, which suggests a sideways trend in the short term. Adding to our odds, our analysis of Open Interest (Oi) data on November 7th reveals a balanced occurrence of both call and put options being written, contributing to a neutral market sentiment.<figure class="kg-card kg-image-card"><img src="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.49-AM-1024x480.jpeg" class="kg-image" alt loading="lazy" width="525" height="246"></figure>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 36600 Call option of 7 November expiry @ $45
 * Sell 33600 Put option of 7 November expiry @ $45

Stop Loss:  P-33600 =  $90 C-36600 =  $90 Target: $0 premium in both legs Payoff chart at Expiry:

 * Max Profit: $90/BTC
 * Max Loss: $90/BTC

Rationale: BTC appears to be trading in a tight range, hovering between the support level at 34,300 and the resistance level at 35,300, which suggests a sideways trend in the short term.

Trade Setup 6 Nov 23