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December Nutcracker Ends

The long awaited December Nutcracker trading contest results are in! From naughty to nice trading strategies, we are excited to reveal the winners for each prize.

Best Naughty Trader
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Milady 2447 goes to the best naughty trader: 0x955916640f96efcd66f4aee595e0a44700a57868!

0x9559 rapidly opened and exercised many long options for quick profits while manipulating the Uniswap price with their alt account. They hid their profits by withdrawing, and then proceeded to re-deposit them right before the last day.

The actual competition end time was around 12 hours later. To keep the competition fair, the end time was kept secret with the hash posted on our blog. The hash can be verified using this preimage.

Best Nice Trader
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Lil Pudgy #16930 goes to the best nice trader: 0x2513aa49e95dc6368618f20e2cf75146178c94e0!

0x2513 sold many puts and calls, incidentally benefiting from the extreme volatility caused by naughty swappers.

Best Trade for Streamia
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mfer #5997 goes to the highest streamia trader: 0x1f2aac54e7f2d001572571980664aa2185aff164!

0x1f2a sold a 1D call at the 1.07 strike for over a month. This call incidentally benefitted from naughty swapping activity between the 1.06 and 1.08 price range.

Congratulations to the winners of the December Nutcracker trading contest, and thank you to all who participated! Prizes will be distributed at the end of the week.

Trading Overview
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Overall, the contest saw over 1k trades, 2m in volume, and 250k DEEZ/NUTS deposits. Check out the stats below.

Trades
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Lots of trades were opened, primarily from naughty accounts.

  • Number of positions opened: 859
  • Number of positions closed: 582
  • Total trades: 1441

Notional Volume
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Around a million of each token was traded as puts and calls during the competition.

  • 974,988 DEEZ
  • 1,213,766 NUTS

Commission Fees
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  • 532.8005 DEEZ
  • 639.9648 NUTS

Passive LP Yield
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Active LPs (options traders) paid over 1k in $DEEZ $NUTS to passive LPs (depositors), for an average APY of approximately 5% to 8%.

  • DEEZ APY: 4.8%
  • NUTS APY: 7.6%

Long vs. Short
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The amount of short options slightly outnumbered long options, likely due to the incentivized mfer prize for best streamia.

  • Buy-sell ratio: 0.82
  • Number of option legs purchased: 709
  • Number of option legs sold: 866

Put vs. Call
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Out of all the long options traded, calls were the most popular position.

  • Put-call ratio: 0.7292682926829268
  • Number of puts purchased: 299
  • Number of calls purchased: 410

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