Call Spread in BTC -55$ Spread

Sideways View on BTCUSDT

Trade:

Sell Call Spread – BTC – 38400 – 38600 – 30 November expiry at 55$
Stop Loss: Spread Premium of $110

Target: Spread Premium of $0

Max Profit: 555/BTC

Max Loss : 555/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.

Enhancing the probability of this scenario, there is notable open interest (OI) in the $38,500 call options.