Sideways View on BTCUSDT
Welcome to Daily Trade Setups.
Trade:
<ul>
<li>Sell 36600 Call option of 9 November expiry @ $95</li>
<li>Sell 34600 Put option of 9 November expiry @ $75</li>
</ul>
Stop Loss:  P-34600 =  $150
C-36600 =  $190
Target: $0 premium in both legs
Payoff chart at Expiry:
<ul>
<li>Max Profit: $170/BTC</li>
<li>Max Loss: $170/BTC</li>
</ul>
<img loading="lazy" decoding="async" class="aligncenter wp-image-33315 size-large" src="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.55-AM-1024x462.jpeg" alt="" width="525" height="237" srcset="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.55-AM-1024x462.jpeg 1024w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.55-AM-300x135.jpeg 300w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.55-AM-768x346.jpeg 768w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.55-AM-24x11.jpeg 24w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.55-AM-36x16.jpeg 36w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.55-AM-48x22.jpeg 48w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.55-AM.jpeg 1122w" sizes="(max-width: 525px) 100vw, 525px" />
 
Rationale:
BTC appears to be trading in a tight range, hovering between the support level at 34,300 and the resistance level at 36,000, which suggests a sideways trend in the short term.
Adding to our odds, our analysis of Open Interest (Oi) data on November 9 th reveals a balanced occurrence of both call and put options being written, contributing to a neutral market sentiment.
<img loading="lazy" decoding="async" class="aligncenter wp-image-33318 size-large" src="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.45-AM-1024x480.jpeg" alt="" width="525" height="246" srcset="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.45-AM-1024x480.jpeg 1024w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.45-AM-300x141.jpeg 300w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.45-AM-768x360.jpeg 768w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.45-AM-24x11.jpeg 24w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.45-AM-36x17.jpeg 36w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.45-AM-48x23.jpeg 48w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-08-at-9.02.45-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 36600 Call option of 9 November expiry @ $95
 	Sell 34600 Put option of 9 November expiry @ $75



Trade Setup 8 Nov 23