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FAQ

🙋🏽‍♂️No-dumb-questions page.

What are options?

An option is an agreement between two parties: a seller and a buyer. The seller writes the contract terms and sells them to the buyer for a premium. That means the seller now has an obligation, and the buyer has a right (but not an obligation) to exercise the contract terms upon expiration.

What types of options are there?

There are two basic types of options: puts and calls. A put represents the right to sell the underlying asset at the strike price. On the other hand, a call conveys the right to buy an asset at the strike price.

What is a strangle?

A strangle is an options strategy in which the investor holds a position in both a call and a put option with different strike prices, but with the same expiration date and underlying asset. A strangle is a good strategy if you think the underlying security will experience a large price movement in the near future but are unsure of the direction. However, it is profitable mainly if the asset does swing sharply in price.

What is the strike price?

The strike price is commonly used to designate the price at which the underlying asset will be sold or bought in the future.

What is Lido?

Lido is a decentralized staking protocol that allows users to stake their ETH and receive ETH 2 rewards.

What is stETH?

stETH is the token that represents the staked ETH in Lido.

What is the potential PnL ?

Payoff=(PrincipalInvested+0.8∗ProfitfromExercise+...Payoff = (Principal Invested+0.8*Profit fromExercise + ...
...+0.5∗LidoYield)∗0.999...+0.5*LidoYield) * 0.999

What is the token stETHvv I receive in the wallet once deposited into the vault?

The stETHvv token represents your shares of the total vault.

Does the stETHvv token have a price?

Yes. right now the easiest way to calculate its price is by doing the math: TVL / Total Supply
NOTE: We will add a reading function directly in the contract to make that step easier.

Is the stETHvv token an ERC-20?

Yes.

What are the fees?

0.1% management fee at withdrawal and 20% performance fee on exercised options

Does the vault follow the ERC 4626 standard?

Yes.

Is there a withdrawal window?

Right now yes. After you make the deposit, you will need to wait until the next round (after we process the deposit) to be able to withdraw.
NOTE: In our next vault version, there will be an emergency function to withdraw funds at any moment in time.

Have more questions?

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