mrwsnx.eth Profile picture
Feb 11, 2023 9 tweets 4 min read Read on X
Are you afraid of a bear market? I do. So how to protect my #Ethereum profits without selling the asset? Using @lyrafinance . It's not financial advice, it's just how I do it. Let's go! 👇🧵 #lyra #options #OptionsTrading
Meanwhile, in this 3d I am referring only to the situation in which we have the #asset that will concern the option in the wallet.
Let's get down to business.
👉We own 1 #ETH purchased at an average load price of $1400
After the current pump we are obviously in profit and we are fond of our asset, so we are at a crossroads:
👉either I separate from the asset by making take profit, or I find a way to protect myself.
Here come the buy puts to our aid! Let's go into detail:
So let's go to the trade section and select buy put:
but which one to choose? I like to choose the one that offers my average loading price as a breakeven point.
I choose the 14/21 day deadline as the deadline.
Here is which one to choose in the situation described above:
So what do we get from this operation? Here it is explained in a graph that can be frightening but once understood it is almost obvious.
We have our asset which, if it continues to rise, will bring us profit. If it falls below our average load price, it will be our option that will bring us profit, right?
That's not the only gain that using lyra for options can bring us. @lyrafinance also offers the return of fees based on how many $lyra tokens we have in staking, vault with apr coupons and vault LP with a great yield!
This is about my way of protecting myself by holding the assets! If you liked the 3d, leave a nice little heart and share! Thank you!

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More from @mrwsnx_eth

Aug 23, 2022
Long tweet of the week on @synthetix_io, sit back, turn on a soft light and fill a glass of wine...
#SNX
👇🧵
Are you afraid of #sUSD minting after the #ust and #luna events?
Let's talk about the possible risks surrounding the protocol, I'll take all the information from the litepaper, I don't feel like editing a sheet done so well and precisely:
''One risk involves the debt SNX holders issue when they stake their SNX and mint Synths. As previously explained, this debt can fluctuate due to exchange rate shifts within the system.
Read 17 tweets

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