Question:

Q2. How many long vs short option contracts have been bought on opyn? What’s their value? Has there been any liquidations?

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Approach:

This essay seeks to find the long and short option contracts bough on Opyn. For this purpose first of all we should clarify the long and short options:

Long option: To long squeeth, you simply buy this ERC20 token from the pool and when you want to close the position, you sell this ERC-20 back to the pool.

Short option: To short squeeth, you will need to put down collateral, mint oSQTH tokens, and sell them in a Uniswap pool.

To find extra info about Opyn and squeeth please visit the following link: [Docs of squeeth]()

The Methodology of this essay based on the above definitions are:

• Long option

                     from ethereum.core.ez_token_transfers  
  
                     where CONTRACT_ADDRESS='0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2' and     
  
                     FROM_ADDRESS='0x56178a0d5f301baf6cf3e1cd53d9863437345bf9' 
  
                    and to_address='0x82c427adfdf2d245ec51d8046b41c4ee87f0d29c' 
  
                    and ORIGIN_FUNCTION_SIGNATURE='0x1cff79cd'
  

• Short option

  
  from ethereum.core.ez_token_transfers

                  where CONTRACT_ADDRESS='0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2' 
  
                  and FROM_ADDRESS='0x82c427adfdf2d245ec51d8046b41c4ee87f0d29c' 
  
                  and TO_ADDRESS='0x3b4095d5ff0e629972caaa50bd3004b09a1632c5' 
  
                  and ORIGIN_FUNCTION_SIGNATURE='0xe56cfbbe'
  

Key findings

The outcomes of short and long options contracts have been bought on Opyn have been figured out in this part as:

1. The number of Long positions is more than short one on buying squeeth on Opyn.
2. The count of users that selected short positions is 173 unique users and more than users chose long position (105).
3. The USD value of short positions is more than long position.
4. The share of short position is 58% with about 20 million USD.
5. From January 11 to May 14 users selected short positions on Opyn but after that date, the count of long positions increased dramatiaclly.
6. The USD value o long positions appears since May 14 and increased over time.
7. The highest value of short positions occurred on January 11 with more than 1 million USD.

Has there been any liquidations?

To answer this question, we should understand the positions first.

There has been no liquidations for Long positions because of the protected downside.

Short Squeeth positions can be liquidated.

By considering these statements, the answer of question is yes there are liquidations or short positions on Opyn and they occurred when the price of ETH changed and because of the collateral to short positions is based on ETH then liquidations occurred.