Siren Flow
  • Introduction
  • 🧜‍♀️Siren Protocol
    • Glossary
    • Use Cases
    • Siren Flow Architecture
      • Hybrid Pricing Model
      • Automated Hedging System
      • Unified Liquidity Pools
      • Portfolio Margin
      • Capital Management
  • FAQ
    • About Siren
    • For Users
    • Product Strength
    • What are Options?
    • What is ITM, ATM and OTM?
    • What are Greeks?
    • Who is the Liquidity Provider?
    • Contract Specifications
    • Siren Protocol Fees
    • Pyth Integration
    • Liquidations
  • Community
    • Governance
    • Discord
    • Twitter
    • Telegram
    • Medium
  • Tutorials
    • Advanced Trading Strategies on Siren
    • Trading on Siren: A Step-by-Step Guide
Powered by GitBook
On this page
  1. Tutorials

Trading on Siren: A Step-by-Step Guide

Welcome to our step-by-step guide on how to make your first trade on Siren, the decentralized options platform. This detailed tutorial will walk you through all the essential steps to successfully exe

PreviousAdvanced Trading Strategies on Siren

Last updated 9 months ago

Step 1: Access the Siren Platform

  • Visit the Website: Open your web browser and go to the website.

  • Connect Your Wallet:

    1. Click on the "Connect Wallet" button.

    2. Select your preferred wallet (e.g., MetaMask, WalletConnect).

    3. Follow the prompts to connect your wallet to the platform.

Step 2: Understanding the Interface

  • Dashboard Overview:

    • The main dashboard displays market data, including available options, their strike prices, and expiry dates.

    • The portfolio section shows your current holdings and their performance.

  • Navigation Menu:

  • Use the navigation menu to switch between different sections like Markets, Portfolio, and Trade.

Step 3: Exploring the Markets

Browse Available Options:

  1. Go to the "Markets" section.

  2. Filter options by asset, expiration date, or strike price to find the options you are interested in.

Option Details:

  • You can toggle “Expert” mode to view detailed information, including the premium, implied volatility, and Greeks.

Step 4: Trading Options

Opening a Position:

  1. Select the option you wish to buy or sell (you can also add multiple options)

  2. Enter the number of contracts

  1. Click "Continue"

  • PRO TIP: you can bridge USDC to Arbitrum from any network supported by LiFi using the “Bridge USDC” button

  • Once USDC arrived on Arbitrum, you can proceed with the trade by setting up the allowance

  1. Once the token allowance is completed, click Confirm Trade

Closing an Existing Position:

  1. Navigate to your portfolio and select the position you wish to close or reduce.

  2. Enter the number of contracts.

  3. Click "Continue" and follow the prompt as above

Step 5: Managing Your Portfolio

To view holdings:

  • Go to the "Portfolio" section to see all your current option holdings.

  • Check the performance and value of each option on the “Account Performance” section.

Siren.xyz