May 2026

Last week was quite hectic for ETH and Ethereum options sellers. With ETH sliding below $2,000, we simulated several scenarios to adjust this week’s positions and ultimately decided on a more defensive but flexible approach.

That said, welcome to Weekly Update #145 covering the latest developments and positioning adjustments inside the Terramatris ETH options portfolio.

On April 23, 2026, a smaller XRP-denominated account managed separately from the main Terramatris strategies initiated a structured crypto options income strategy on Bybit.

The account holder approved the strategy specifically to generate additional income from long-term XRP holdings without liquidating the underlying XRP position.

At the time, the account held 751 XRP valued at approximately $1,000, while ETH traded near $2,321.

Despite one of the weakest premium-selling weeks (#144) in months, the fund made one of its most important strategic transitions yet: moving toward a margin-free structure while continuing to accumulate long-term ETH and SOL exposure during a deeply unfavorable market environment.

On May 15th, 2026, the TerraM token traded at $2.22, up +4.75% week over week. On-chain activity was minimal, with two buys and one sell. 

After two weeks of live testing and iteration, we made another meaningful upgrade to our algo trading bot. 

For the past 14 days, the Terramatris ETH options engine has been running continuously in production, managing short-duration ETH put strategies on Bybit.

TerraM is a Solana SPL token connected to the Terramatris ecosystem and crypto hedge fund initiative. The token is designed to align community participation with long-term growth strategies focused on crypto asset management, options trading, and decentralized finance exposure.

As with any crypto asset, investors should understand:

• Token utility
• Liquidity conditions
• Volatility risks
• Custody risks
• Smart contract risks

Crypto remains a high-risk asset class. Never invest capital you cannot afford to lose.