###### August 6, 2022

Dopex-PapersDopex-Essentials

# The Strategy

###### As a brief rundown of how this strategy will work, we will:
1. Buy 1 ATM ETH APs with a strike price of $1500 2. Borrow 50% of the collateral ($750 USD)

## 3. Putting it all together

### Total PNL

###### Now that we have both parts of our strategy, let’s put the net settlement/PnL together and see what it looks like. As a gentle reminder, we have:
1. Purchased an AP: This is in profit if the price of ETH decreases
2. Bought ETH: This is in profit if the price of ETH increases

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