How to use Greeks.Live Auto DDH service?
Set up the service
Visit https://asia.deribit.com. Log into your Deribit account. Stay on the main account page.
Open a new tab in same browser and enter www.greeks.live/ddh/.
Alternatively, visit www.greeks.live. Click “Auto DDH” on the upper side of the page, and a new page asking for “Authorize Application” will pop out. Stay logged in as the main account. Click the green button “APPROVE” to proceed.
Note: You may skip Step 1 and visit www.greeks.live/ddh/ directly, in which case the system will automatically redirect to Deribit’s login page. Sign in your Deribit’s account and finish authentication for Auto DDH.
You may find the page in Chinese and hard to recognize. Don’t worry.
Click the “Language” menu on the upper right corner to choose English.
Note down your “User ID” on this User Information page.
Add our customer support on Telegram (id: miawung) and send your “User ID” to her. We will extend your User ID’s validity period by 90 days.
Please monitor your remaining validity period by yourself. I suggest that you contact our customer support again to extend the validity period when there are only 10 days left.
You may check the “Authorized application” in Deribit’s Menu — Api — “Authorized applications”.
If you click on “Enabled” or change Api Scope of our application, the service will not be available until the status is changed back to what it was.
If you click “Revoke access”, the User ID of Auto DDH will be reset and wiped out. Next authorization will generate a different User ID. And you will need to contact our customer support again for validity.
How to use Auto DDH?
On the upper left side of the Auto DDH page, you can see the “List of Accounts”, where you may choose the main/sub account through which you wish to use the Auto DDH service.
Two items need to be set on the parameters page.
“Delta Target” refers to the value “Delta Total” will be adjusted to after each hedge.
“Delta Total” is the collective Delta exposure of all your options and perpetual/futures positions.
The default value of “Delta Target” is Zero. So, after each hedge, you will have a Delta Neutral portfolio.
Nevertheless, if a trader deems the market to be a bull market and wishes to have positive Delta exposure after each hedge, he can set “Delta Target” to be a positive number. For example, if he sets “Delta Target” to be 5, then after each hedge, the portfolio’s “Delta Total” would be +5.
If the trader wishes to have a negative Delta exposure after each hedge, he can set “Delta Target” to be a negative number. For example, if he sets “Delta Target” to be -3, then after each hedge, the portfolio’s “Delta Total” would be “-3”.
“Delta Threshold” is the limit of the absolute value deviation of the portfolio’s “Delta Total” against the “Delta Target” set by the user. Beyond this limit, a Delta Hedge will be triggered.
For example, suppose that your “Delta Target” is “0”, and your “Delta Total” is “-0.2” or “0.2”, the absolute value of deviation will be “0.2”.
If your “Delta Target’ is “1”, and your “Delta Total” is “0.8” or “1.2”, then the absolute value of deviation will be “0.2”, too.
In my example shown in Picture 7, the “Delta Threshold” is set as “0.1”, and the deviations in the above two examples are both beyond “0.1”. In these cases, a delta hedge will be triggered to bring “Delta Total” to the respective “Delta Target”.
Our program will check the deviation every five seconds.
If you wish to switch on Auto DDH feature, please remember to click “Switch On” and enable it. After that, remember to click the green button “Submit”. By clicking close or somewhere else to dismiss the window, the parameters and switch on/off will not be effective.
If you wish to switch off the Auto DDH feature, click “Switch Off” before clicking “Submit”.
Switch between different Main Accounts
If you have multiple Deribit main accounts and wish to manage these accounts’ Auto DDH, you may:
1. Use different browsers to manage different main accounts.
2. In the same browser, log out the account on https://asia.deribit.com by clicking “Sign Out” close to the upper right corner of the page. Then close the tab.
In case “Server Error” pops up on the DDH page during this operation, clear cookies in the browser and try again.