I wouldn't run it until you can confirm you have oil flowing. From memory those daytona 125s have a seperate oil filter on the clutch case (underneath the smaller round cover plate on the clutch) . Did you swap or take out the oil filter? If so make sure it is not put in backwards as this will block flow if installed the wrong way. How i normally check oil is pumping pull the spark plug out, remove the cover on the clutch side of the head and crank it over by hand, if you dont get oil spitting out within a few pumps, do not run it until you do (i do this after i have opened up an engine before i run it for piece of mind.
If you have oil pumping, did you happen to open the wrong bolt when draining your oil, there are 2 underneath the engine, one one the clutch side and one on the other side. The clutch side one is your drain plug, the one on the other side is actually holding your timing chain tensioner in place. If you did open it up, the noise you are probably hearing is your timing chain slapping around because the tensioner isnt actually taking up the slack. You need to rectify before you run it.
