Actually the stock airhole on the octopus is not a side hole. the air inlet is directed upwards, from directly under where you build your coil. You will not be blowing any clouds with that airhole. Maybe a little smog..

If you aren't happy with it, you need to drill a 1/16" airhole in the side, directly beside and slightly under where the coil goes. Go bigger with the hole if you like lung hitting. As to the liquid, you only need enough liquid to get the wick wet. Don't pool the liquid. You should be able to fully fill the wick with the entire cap off. Keep researching it, under the name smoktech
rda or octopus. There is alot of info out there. Have fun!