Sideways View on BTCUSDT
Trade:
Sell 41000 PUT option of 7 February expiry @ $60
Stop Loss: Premium = $120
Target: Premium = $0
Max Profit: $60/BTC
Rationale:
The most recent movement in BTC suggests a potential temporary halt in the momentum, with noticeable retracements in play. Moreover, a recently established support has been pinpointed on the charts.
Adding to our odds, high OI is also observed for 41k puts of 7 Feb expiry.
Trade:
Sell 41000 PUT option of 7 February expiry @ $60
Stop Loss: Premium = $120
Target: Premium = $0
Max Profit: $60/BTC
Rationale:
The most recent movement in BTC suggests a potential temporary halt in the momentum, with noticeable retracements in play. Moreover, a recently established support has been pinpointed on the charts.
Adding to our odds, high OI is also observed for 41k puts of 7 Feb expiry.