BTC - Observing Elevated Open Interest for Selling Call OptionsSideways View on BTCUSDT
Trade:
Sell Call - BTC - 38500 - 1 December expiry at 60$
Stop Loss: Premium of $120
Target: Premium of $0
Max Profit: $60/BTC
Max Loss : $60/BTC
Rationale:
Following an impressive surge in BTC, we observed a retracement from the 38000 levels, leading to a dip in BTC’s value to 34900. This selling pressure successfully breached key demand/support zones, particularly around 35600, and price is back at resistance level again.
Adding to our odds, we have observed high OI built-up at 38500 strike of 1st December expiry.