BTC - Observing Elevated Open Interest for Selling Call Options

Sideways View on BTCUSDT

Trade:

Sell Call - BTC  - 38500 -  1  December expiry at 60$

Stop Loss: Premium of $120

Target: Premium of $0

Max Profit: 660/BTC

Max Loss : 660/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.

Adding to our odds, we have observed high OI built-up at 38500 strike of 1st December expiry.