---
title: DOV Bidder Guide
slug: dov-bidder-guide
icon: 😏
docTags: 
createdAt: 2023-05-23T15:13:33.000Z
---

Let’s bid in the auction and grab some options at a decent price!

1. <u>[Get Your Wallet & SUI Token Ready](https://docs.typus.finance/bidder-guide#zWg3P)</u>
2. [Place Bids](https://docs.typus.finance/bidder-guide#zWg3P)

# Get Your Wallet & SUI Token Ready

1. Get your wallet on SUI blockchain ready ([Stashed](https://getstashed.com/auth) and [SUI Wallet](https://suiwallet.com/) are highly recommended).
2. Make sure you have enough SUI balance in your wallet (at least 1 SUI) for a smooth bidding and gas fee cost.
3. If you are all set well, directly head to the [Bid Options Page](https://typus.finance/bid/) and connect your wallet.

![](https://api.archbee.com/api/optimize/f0wpBLycD4SqdLxdQePJn/S1PY0_uPlkpzjWG3DrHGL_image.png)

# Place Bids

1. Select your market view and preferred auctions under the **[Bidder Guide](https://typus.finance/bid/)**. As an example, I am bullish and I think the price of SUI will go UP next HOUR. Let's "**Enter**" the Hourly SUI Capped Call (bid in SUI) auction now!&#x20;

![](https://api.archbee.com/api/optimize/f0wpBLycD4SqdLxdQePJn/jGaUa61WiVFFVZ1F5_fme_image.png)

This is where you can place bids to win big.

- In this case, you input 100 in the `Bid Size` column and click `Bid` to send a transaction. It means that you are about to long 100 SUI with 0.5714 SUI. View settlement examples [here](https://docs.typus.finance/vault-bidder-option-buyer).

![](https://api.archbee.com/api/optimize/f0wpBLycD4SqdLxdQePJn/npCPL2d4lNwKl1e1fZXUV_image.png)

- The bid price is gradually decreasing from the initial price to the final price in [Modified Dutch Auction](https://docs.typus.finance/modified-dutch-auction). **Clearing Price** is determined by the final bid price that covers the full offer quantity. If it's not fully covered, it will be the lowest price at delivery, and you will receive **Rebates** from `My Rebate` section at the [Portfolio Page](https://typus.finance/portfolio/).&#x20;

![](https://api.archbee.com/api/optimize/f0wpBLycD4SqdLxdQePJn/aUtU0i5UsJAjW_KDjR64v_image.png)

- The options position will be shown on `Bid` section at the [Portfolio Page](https://typus.finance/portfolio/) as well. Please note that the options you bid on will not be settled until the expiry date.&#x20;

![](https://api.archbee.com/api/optimize/f0wpBLycD4SqdLxdQePJn/PJtqEI67Qbh2DTjTQ4mj4_image.png)



- User can set [Auto-Bid Strategies](https://typus.finance/portfolio/#strategy) as well.

![](https://api.archbee.com/api/optimize/f0wpBLycD4SqdLxdQePJn/JVJKwYGcZ3N9iE9v6284B_image.png)

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