We’re excited to bring you the weekly updates, insights, and opportunities to enhance your trading experience with Delta Exchange.
WEEKLY SNAPSHOT
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CRYPTO NEWS
- The global crypto market cap is $2.31T, the total crypto market volume over the last 24 hours is $72.16B, which makes a 13.32% decrease. Bitcoin’s dominance is currently 57.92%. (Source: CoinMarketCap)
- SEC approves NYSE, CBOE listings of Bitcoin options ETFs. This change in regulatory policy puts Bitcoin ETF options in the same category as other commodity-based ETFs. (Source:Cointelegraph)
- On 22nd Oct, US spot Bitcoin exchange-traded funds (ETFs) experienced a notable shift, returning to negative daily flows after a week of consistent net inflows. According to data from SoSoValue, the 12 spot Bitcoin ETFs reported total net outflows of $79.09 million on Tuesday and the total net inflow of Ethereum spot ETFs was $1.2663 million on October 23
- On October 23, the cryptocurrency market experienced its second-largest day of liquidations in October, totaling $261 million. This was largely driven by the failure of Bitcoin to maintain upward momentum after nearing $70,000 on October 21. (Source: Coinglass)
OPTIONS OI ANALYTICS FOR UPCOMING WEEK
OI Analytics for the upcoming week: BTCUSD
Option writing levels are towards the extreme ends, giving room for Bitcoin price to trade as option writers are expecting some volatility in Bitcoin.
OI Analytics for the upcoming week: ETHUSD
ETHUSD is showing activity on the call side with call writing at strikes of 2900 and 3100. PCR of 1.18 indicates the interest of Put sellers in the market. Put writing at 2350 is evident which is also the support level as per the TA.
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DELTA EXCHANGE RESEARCH PERFORMANCE
Performance of trades covered by Delta Research last week:
- Last Friday’s Short Strangle strategy performed well ending in profits of $160
- This week on Tuesday and Wednesday, the Short Strangle strategy was able to deliver $150 and $35 respectively.
- On Thursday, the strategy was able to clock $160 with overall profit of $505 for the week.
For more such trade research insights, follow the Delta Research Community and Telegram channel.
NEW PRODUCT FEATURE: RISK VIEW
Risk View allows you to view details of your ongoing positions. It also helps you to make decisions based on Option Greeks. You can use it to hedge your portfolio and make adjustments. If you are an Options trader, you can use it to make adjustments based on any of the Option Greeks.Example: If you are running a delta neutral strategy and the underlying has moved, the Risk View will enable you to directly analyze the amount of delta which needs to be adjusted in your overall positioning so that you can make appropriate adjustments to again neutralize the delta.
How to navigate to Risk View:
- Click on the Portfolio icon on the app/website
- In the Portfolio screen, click on ‘Positions’ tab
- Click on Risk View to view the details of your ongoing positions
Check out our YouTube video on this new feature.
UPDATES FROM DELTA EXCHANGE TEAM
Last week, the Delta Exchange team had an exciting presence at two major trading events. We participated in the AlgoXConvention 7.0 in Gift City, Gujarat and at BOTSummit in Surat, engaging with Algo and manual Futures & Options traders, sharing insights on Crypto derivatives.
Source links for reference:
- https://finance.yahoo.com/news/crypto-comeback-gains-momentum-friday-205319961.htm]
- Bitcoin (BTC) Takes Another Shot at $63.5K as China's Vague Fiscal Stimulus Deters Capital Shift
- https://cointelegraph.com/news/sec-approves-new-york-stock-exchange-listing-bitcoin-options-etf
- https://www.theblock.co/post/322545/us-spot-bitcoin-etfs-shift-to-negative-flows
- https://cointelegraph.com/news/crypto-longs-second-largest-liquidation-day-october-market-steadies
- https://coinmarketcap.com/
If you need any assistance or have any questions, our dedicated customer support team is here to help you, please write to us here.
Happy Trading!
Delta Exchange India Team.