Strategy: Short Put Spread
View: Bullish View on BTC
> Sell 1x BTC-1MAR24-55500-P @ $423
> Buy 1x BTC-1MAR24-55000-P @ $308
Target: Spot level of $56,000 & above
For risk management, we recommend setting a stop loss at $ 55,450 to invalidate the aforementioned setup.
Payoff chart at Expiry
Max Profit: $115/BTC
Why are we taking this trade?
Recent developments in BTC suggest a potential prolongation of its upward trajectory, especially with the approaching Bitcoin Halving and the consistent increase in BTC ETF investments.
After reaching a high of $57,570 for BTC yesterday, there hasn’t been any notable pullback, indicating a possible continuation of the bullish trend. On the hourly chart, an ascending triangle pattern is evident, typically signaling a continuation of the current trend. Hence, there’s a likelihood that the upward momentum will persist.
How to take this trade on Deribit?
Step 1: Go to Combo books under the Strategy tab & create combo.
Step 2: Click RFQ and send your order to the Combo List.
Step 3: Go to Combo list (BTC), click on your Strategy and execute (SELL).
Disclaimer
This report must not be used as a singular basis of any trading decision. The document includes analysis and views of our research team. The document is purely for information purposes and does not constitute trading recommendation/advice or an offer or solicitation of an offer to buy/sell any contract.
