Strike While It's Hot: 34000 Put Option - Nov 4 Expiry @ $142.5
Bullish View on BTCUSDT
Trade:
Sell 34000 Put option of 4 November expiry @ $142.5
Stop Loss: P-BTC- 34000 Premium = $284
Target: P-BTC- 34000 Premium = $0
Payoff chart at Expiry:
Max Profit: $142.5/BTC
Max Loss: $142.5/BTC
Rationale:
BTC has exhibited a pattern of achieving higher highs and higher lows in its daily price movements. Notably, it broke through key pivot levels at 35300 during the recent trading session, signifying a promising upward trajectory.
Examining the 4-hour chart, it's evident that the price is consistently adhering to established support / demand zones. This steadfast adherence underscores the robust buyer sentiment in the market.
Moreover, we've observed a significant surge in open interest (OI) for out-of-the-money (OTM) put options expiring on November 4. This uptick in OI for such options further bolsters our confidence in the current market conditions.
Trade:
Sell 34000 Put option of 4 November expiry @ $142.5
Stop Loss: P-BTC- 34000 Premium = $284
Target: P-BTC- 34000 Premium = $0
Payoff chart at Expiry:
Max Profit: $142.5/BTC
Max Loss: $142.5/BTC
Rationale:
BTC has exhibited a pattern of achieving higher highs and higher lows in its daily price movements. Notably, it broke through key pivot levels at 35300 during the recent trading session, signifying a promising upward trajectory.
Examining the 4-hour chart, it's evident that the price is consistently adhering to established support / demand zones. This steadfast adherence underscores the robust buyer sentiment in the market.
Moreover, we've observed a significant surge in open interest (OI) for out-of-the-money (OTM) put options expiring on November 4. This uptick in OI for such options further bolsters our confidence in the current market conditions.