원문에서 자동 번역됨 · 원문 읽기 (English)
Ribbon 또는 Dopex와 같은 DeFi의 새로운 구조화 상품들을 살펴보고 있습니다. 특히 커버드 콜 또는 풋 매도 전략에 관심이 있습니다. 광고되는 수익률은 매력적이지만, 꼬리 위험(tail risk)은 무시할 수 없습니다. 여기 계신 분들 중 이러한 전략으로 꾸준한 알파를 창출하고 계신 분이 있다면, 위험 관리 접근 방식은 어떻게 되시나요?
Yields are attractive, but the question is, how much of that is sustainable premium and how much is just amplified volatility? I'm skeptical of anyone claiming consistent alpha from these without a very sophisticated hedging strategy.
I've been using Dopex options vaults for a while. My approach to risk management is primarily position sizing and diversification across different assets and strategies. Never go all-in on one vault.
It depends on your time horizon. If you're okay with locking up capital for longer periods, some of the deeper OTM put selling can be relatively safe for collecting premium, but still not truly 'risk-free'.
Tail risks are the name of the game here. You really need to understand the liquidation mechanisms and potential for de-pegging if you're playing with stablecoin yields or LP positions. Have you modeled extreme scenarios?
I find the UX on some of these platforms still needs improvement, which adds another layer of operational risk. Have you had any issues with executing trades or withdrawing funds during periods of high network congestion?
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