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>
<img loading="lazy" decoding="async" class="aligncenter wp-image-33195 size-large" src="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.16-AM-1024x462.jpeg" alt="" width="525" height="237" srcset="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.16-AM-1024x462.jpeg 1024w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.16-AM-300x135.jpeg 300w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.16-AM-768x346.jpeg 768w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.16-AM-24x11.jpeg 24w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.16-AM-36x16.jpeg 36w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.16-AM-48x22.jpeg 48w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.16-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 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.
<img loading="lazy" decoding="async" class="aligncenter wp-image-33196 size-large" src="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.49-AM-1024x480.jpeg" alt="" width="525" height="246" srcset="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.49-AM-1024x480.jpeg 1024w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.49-AM-300x141.jpeg 300w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.49-AM-768x360.jpeg 768w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.49-AM-24x11.jpeg 24w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.49-AM-36x17.jpeg 36w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.49-AM-48x23.jpeg 48w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-06-at-9.04.49-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 7 November expiry @ $45
 	Sell 33600 Put option of 7 November expiry @ $45



Trade Setup 6 Nov 23

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