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  • Close your position during a fixed term
  • Close your position outside of a fixed term
  1. Learn
  2. Guides

Hedge - Exit a position

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Last updated 1 year ago

There are several ways to exit your Bumper hedging position depending on whether you’re in a fixed term and whether the value is above or below the price floor.


Close your position during a fixed term

If you’re within a fixed term, indicated in your position summary by a countdown timer, you can close your position at any point.

Closing your position while in term will return your original asset, irrespective of whether the value is above or below your price floor. You will also forfeit any BUMP token incentives earned during the term. You will be charged a prorated premium, calculated over the period the position was open.

To close your fixed term position follow these steps:

  • Navigate to the Bumper dApp ensuring your wallet is connected

  • Select the Market where the position exists that you would like to close

  • Find the position in hedging Positions summary and click the ‘Close’ icon

  • In the pop up window you will be shown:

    • the position amount which you are closing

    • the estimated premium for the term of the position

    • the trading fee

    • your total estimated payout with the relevant fees included

    • the bond amount which will be returned to your wallet.

    • you won’t receive any BUMP token incentives for closing a position early

  • Select ‘CONFIRM’ to open your web wallet and complete the transaction

  • Now approve the transaction in your web3 wallet, and then wait for it to be confirmed on the blockchain

  • Once completed, you’ll see a confirmation of your transaction pop up, and the position will be removed from your dashboard


Close your position outside of a fixed term

Closing above your price floor

To close when above your floor price follow these steps:

  • Navigate to the Bumper dApp ensuring your wallet is connected

  • Select the Market where the position exists that you would like to close

  • Find the position in the hedging Positions summary and click the ‘Close’ icon

  • In the pop up window you will be shown:

    • the position amount which you are closing

    • the estimated premium for the term of the position

    • the trading fee

    • your total estimated payout with the relevant fees included

    • the bond amount which will be returned to your wallet.

    • your estimated BUMP token incentives for participating in the protocol

  • Select ‘CONFIRM’ to open your web wallet and complete the transaction

  • Now approve the transaction in your web3 wallet, and then wait for it to be confirmed on the blockchain

  • Once completed, you’ll see a confirmation of your transaction pop up, and the position will be removed from your dashboard

Claim below your price floor

To close when above your floor price follow these steps:

  • Navigate to the Bumper dApp ensuring your wallet is connected

  • Select the Market where the position exists that you would like to close

  • Find the position in the hedging Positions summary and click the ‘Close’ icon

  • In the pop up window you will be shown:

    • the original position amount in the deposited asset

    • the claim amount based on your chosen floor in stablecoin

    • the estimated premium for the term of the position

    • the trading fee

    • your total estimated payout with the relevant fees included

    • the bond amount which will be returned to your wallet.

    • your estimated BUMP token incentives for participating in the protocol

  • Select ‘CONFIRM’ to open your web wallet and complete the transaction

  • Now approve the transaction in your web3 wallet, and then wait for it to be confirmed on the blockchain

  • Once completed, you’ll see a confirmation of your transaction pop up, and the position will be removed from your dashboard

Once your fixed term has ended your options to close the position will depend on whether the position is above or below the price floor. Instead of exiting at the end of your term, you can also choose to .

renew your position
Close during a fixed term
Close outside fixed term above floor
Claim outside fixed term below floor