---
# System prepended metadata

title: Octos do the Premia Finance Trading Competition
tags: [MetaGAME, Premia]

---

###### tags: `MetaGAME` `Premia`

# Octos do the Premia Finance Trading Competition

###### Involved Octos [ Please add yourself if you want to play with us. ]
- Chair
- Bacon
- Tommy
- Misanth
- Musashi
- Bagsy
- Tburd

## Links
[Premia.Finance](https://premia.finance)
[Premia Discord](https://discord.gg/npVN2DNb)
[Explainer Article](https://premia.medium.com/premia-2-0-research-amm-and-pool-architecture-trading-competition-kick-off-80a700d1c297)
[Youtube Explainer](https://www.youtube.com/watch?t=1331&v=JOdPbfFp8Rc&feature=youtu.be)
[SpreadSheet](https://docs.google.com/spreadsheets/d/1KGZxaTr1YlzGf7ePIs-y73WgPIkQjho5f5hUzwzYoQY/edit#gid=0)

## Background
Premia.Finance is holding a trading competition lasting 20 days starting 2021-06-24.

Chair is on the list of users greenlit to play the game and thus will lean heavy on the OctoFam to inform the trades.

Premia is an options trading platform, I know nothing about Options.

## Prize Money
There is prize money for 1st/2nd/3rd, if we win anything we will split the winnings 50/50 or 30/30/30/30 or 25/25/25 or whatever the breakdown is.

## Starting Assets
![](https://i.imgur.com/punNwNG.png)

## For Initiates
Strike price: price you can exercise for.

Goal: actual price is above the strike price.

The amount you make is based off the diff of the strike price and the actual ymarket price. minus the cost of the optino itself. also the size of the option contributes to the profit you make.

Your breakeven price is the strikeprice plus the amount you need to make to cover the cost of the option.

The amount to cover is based off the profit. That will change based off the size of the options. The larger the option, the more you make of a small diff.

## Current Positions

## Future Position Plans

## High Level Strategy Section

- More calls than puts. The market is probably bottomed and going up.

## Low Level Strategy Section

- Any market move exposes eth/btc plays.
- Link/Eth might be a predicatable way to go (Bacon)
- Link/Eth is collapsing hard, see the link/eth chart
- it might come up sharp, because its so deflated
- Link likes to break out when eth is collapsing (misanth)

## Moving Averages

Tracking how the average of hte previous three days changes over time.

A triple EMA is a weighting of the moving averages.

Teh green line is the 3 days, the teal line is 21 days.

The teal line is flatter cuz 21 days is long yo.

When those lines cross, there is going to be price movement.

If the lines separate, the same is going to happen, if the narrow, things will change. It will help you enter and exit. The lines typically cross after the market change sometimes.

An ema of 21 will weight the recent days heigher. 


## Misanth

We should decide in terms of speed what we are doing. 1 option that expires at the end, and that creates volume?

Do we want to create as many as possible?

Or middle ground?

## Opening Move

Based on 10 percent bankroll mgmt strategy, we will use 4800dai worth of our roll on the first play.

Currently our assets value at 48,417usd

## Transactions

1. Vault all 0.3 wbtc in Call Pool. Locked for 24 hours.

https://rinkeby.etherscan.io/tx/0xf3a1edf7419bcb0c96724b846a9b4ccad0f9f00e6d3d730c82ac9c1abe82eab5

2. Vault all 5 eth in Call Pool. Locked for 24 hours.

https://rinkeby.etherscan.io/tx/0x6bbd47bb81e2041f82832ca1ccef10d72c25dd568c4343b68106b10e22c74772

3. Call Option 100 Link for $122.48 7 day maturity 20.22ish breakeven

https://rinkeby.etherscan.io/tx/0x0b900bf048018b47d7ab17dc96129d4cc5f71621e8e002feaeb3ba1b3990c34e

---

## Day 2

### Summary

- Paired with Bacon and Musashi
- Can't exercise LINKY option yet, price too low atm (12:31am) Fri Jun 25
- WETH and WBTC unlocking very soom(tm).
- Looks like the site is not letting any call options go through at this time
- Will try again on Friday day 3

## Day 3

- No action

## Day 4?
###### Sunday 2021-06-27

WETH / WBTC Locked in Vault 24 hours

![my-positions-2021-06-27](https://i.imgur.com/RTyRCoy.png)

## Day 5
###### Monday 2021-06-27

1. Exercised 18 strike price LINK option at 19.something for 83% p/l
2. Eth stuck in the vault
3. What should we do?
