Trade Setup 6 Nov 23

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. 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.

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.