Build a Bitcoin Hedged Strategy for Badger on Ethereum or Rollup (ETH, Arbitrum, Optimism)

Badger DAO's core mission is to bring Bitcoin to DeFi. Once it gets there, we need to offer competitive yields to our users. We believe strategies involving options would be the future of DeFi and a great way to diversify badger's product range from yield farming strategies where there is a big risk of yields drying up. We are also always looking for more great strategists to find/code new, SAFU strategies to extract yields on Bitcoin across all of EVM compatible DeFi (we currently have footprints on Mainnet, Polygon, Arbitrum). While we look forward to some good usable options strategies out of this hack-a-thon, our real goal is to find great minds to continue to work with. Please keep this in mind when submitting, and put your best foot forward.

# Bounty:

Develop a successful Bitcoin Hedged Options Strategy. We will pay $20K in BADGER for the winner of this bounty which would fullfill the below requirements. Winner would be decided by an internal review of submissions by the core team and the team can decide to not give out any rewards if the submissions are not upto the mark. If there are more than 1 valid submission a "honorable mention" reward (decided by the core team) would be given to the second best submission.

**Potential ideas could be:**
- Delta Hedging Strategies (https://www.investopedia.com/terms/d/deltahedging.asp, https://www.investopedia.com/terms/g/gamma.asp) for WBTC using Premia on Arbitrum (https://app.premia.finance/options)
- Gamma Hedging Strategies (https://www.investopedia.com/terms/g/gamma-hedging.asp)
- Delta + Gamma Hedging Strategies

**Useful links:**
- https://defiprime.com/derivatives#options
- https://www.opyn.co/
- Use this as your starting point: https://github.com/Badger-Finance/badger-strategy-mix-v1

# Requirements:
- Code Must Compile
- The Strategy must pass all tests + there must be custom integration tests
- The Strategy needs to be profitable (give us an estimate of the yield it should make)
- Submit a DDD (Due Diligence Document). If protocol doesn't pass due diligence we won't go live. eg. https://hackmd.io/VywOY2HFTQSzjMLnv6NDEg?view=
- The Strategy needs to have a brief introduction, explaining what it is supposed to do
- You did deploy the strategy (gas refunds for winners) and the strategy is being profitable for you
- **Note:** [Badger Strategy Mix](https://github.com/Badger-Finance/badger-strategy-mix-v1) should be used as a starting point to write the strategy.

- [Extra Points] A Visualization of how the strategy works

# Talk to us:
If you have questions/need help building your strategy you can find us in the hack-a-thon channel on our Dev Discord. Note that this is a bounty for senior solidity devs and we are quite busy, so we will answer one or two intelligent questions, but expect you to work independently on this project.

Start by reviewing the Badger Strategy Mix repository linked in the issue and the listed options-protocol resources. Define and implement a Bitcoin hedged-options strategy, then verify compilation, existing and custom integration tests, profitability estimates, deployment, and the required due-diligence document.

Written by the indexing model from the issue text.