> For the complete documentation index, see [llms.txt](https://docs.aevo.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.aevo.xyz/aevo-products/aevo-otc/use-cases-with-examples/protect-holdings.md).
# Protect holdings
Ex: The ENA unlock on March 5, 2025, could drop ENA from $0.42 to $0.35 as holders sell. You hold 200,000 ENA and want protection. Buy a ENA put: $0.4 strike, March 7, 2025 expiry, $0.018/ENA premium ($3,600 total).
If ENA falls to $0.35 on the unlock day, your portfolio incurs a $14,000 loss. However, the put will be now be worth $0.05/ENA, cutting your loss to $7,600. Sleep easy through the dip.
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