Delta-Ex-research

BTC Option: Capturing the Range

DELTA:BTCUSDT   Bitcoin / Tether
Sideways View on BTCUSDT

Trade:

Sell 36600 Call option of 9 November expiry @ $95
Sell 34600 Put option of 9 November expiry @ $75

Stop Loss:  P-34600 =  $150

C-36600 =  $190

Target: $0 premium in both legs

Max Profit: $170/BTC
Max Loss: $170/BTC

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.
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