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# DeFi Option Vault (DOV)
### What is a DeFi Option Vault (DOV)?
DeFi Option Vaults run an automated option selling strategy, selling out-of-the-money (OTM) calls/puts on a weekly basis and collecting the premiums. Teragon DOV's run weekly Epochs in which the options are auctioned off to select market makers.
Everything is automated, users can set-and-forget their holdings in these vaults to collect premiums.
### Implementation Example
* Teragon Global Crypto Index (GCI) Call Overwriting Vault on BSC
* Users can deposit their Teragon GCI token into this vault
* The vault generates yield by selling weekly call options on the Teragon GCI
* If the call option ends up out-of-the-money, users receive option premium in the form of additional Teragon GCI vault tokens
* If the call option is in the money, then users receive the equivalent BUSD generated by selling the Teragon GCI notional + call option premium at the strike price
Fee Structure
Teragon charges a 2% fee on all premiums weekly.
The resulting revenue is directed to the Teragon treasury.
User Deadlines
Withdrawal cut-off: 9am UTC Fridays
Any users looking to withdraw funds need to submit withdrawal requests before this time otherwise funds will be rolled over into the next Epoch
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