# SL Protect
### Overview
**SL Protect** is a hedging tool that utilizes Out-of-the-Money (OTM) options to safeguard your perpetual contract positions.
By analyzing your current holdings and the market price, it automatically initiates counter-trend OTM options. This mechanism provides immediate profit protection or liquidation defense during the coverage period—at a significantly lower premium cost.
### **Set protection pre-position**
1. Enable \[Perpetuals Protect] and enter the position size you intend to open.
2. Choose duration and max loss rate (higher loss = lower fee). Check Strike Price, Size & Protection Fee.
3. Choose direction and place order.
### **Enable protection post-position**
* #### Protect Open Positions
1. Click \[SL Protect] to your target position.
2. Choose duration and max loss rate (higher loss = lower fee). Check Strike Price, Size & Protection Fee. then Confirm and Place Order.
* #### Adjust position size and enable protection
1. Enable \[Perpetuals Protect] and enter the adjusted position size.
2. Choose duration and max loss rate (higher loss = lower fee). Check Strike Price, Size & Protection Fee.\
**Info:** As you hold an open position, this action will apply protection to both new and existing positions.
3. Choose direction and place order.
