BTC Option: Capturing the Range
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: 1170/BTC
Max Loss: 1170/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.
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: 1170/BTC
Max Loss: 1170/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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