Articles
ETH Covered Call Rolled Forward: 26.39% Potential Return in 49 Days
As of July 17, 2026, our Ethereum strategy portfolio was valued at $3,249, up 1.38% week over week. Despite the weekly recovery, the portfolio remains down -39.66% year to date and -72.27% below the all-time high reached in September 2025.Based on our performance tracking, the strategy is slightly underperforming Ethereum itself, which is down approximately -38.22% year to date.Ethereum Covered Call PositionOn July 14, just a few days before expiry, we decided to roll our 1.3 ETH covered call position forward. For…
Rolling ETH Covered Calls for a 25.35% Potential Return in 42 Days
As of July 10, 2026, our Ethereum strategy portfolio was valued at $3,205, up 5.4% week over week. Despite the weekly recovery, the portfolio remains down -40.48% year to date and -72.65% below the all-time high reached in September 2025.Based on our performance tracking, the strategy is slightly underperforming Ethereum itself, which is down approximately 40.30% year to date.Ethereum Covered Call PositionOn July 7, just a few days before expiry, we decided to roll our 1.3 ETH covered call position up and forward.…
Rolling ETH Covered Calls Toward a 19.02% Return in 35 Days
As of July 3, 2026, our Ethereum strategy portfolio was valued at $3,941, up 3.15% week over week. However, the portfolio remains down 43.52% year-to-date and is still significantly below its all-time high, down 74.05% from the record level reached in September 2025.Our strategy is slightly underperforming Ethereum itself, which is down 42.86% year-to-date.Ethereum Covered Call PositionDuring the week, we rolled our 1.3 ETH position forward and down. One of our weekly options premium goals is to keep the delta…
Rolling Ethereum Covered Calls for a Potential 20.69% Return in 28 Days
As of June 26, 2026, our Ethereum strategy portfolio was valued at $2,948, down 45.25% year-to-date. The recent crypto selloff has been massive - painful, but not exactly unusual for this market.Compared with Ethereum itself, the portfolio has performed almost identically, with ETH down approximately 48.54% over the same period. In other words, the portfolio has largely tracked its core underlying asset, while still generating option premium along the way.If there is one lesson to take from this market, it is this…
18% Potential Return in 21 Days From Rolling a Single ETH Covered Call
As of June 19, 2026, our Ethereum strategy portfolio was valued at $3,116, down 42.15% year-to-date. While that number is never pleasant to see, periods like this are part of investing in both crypto and options.Rather than chasing risky trades to recover losses quickly, we continue to focus on a disciplined strategy built around generating option premium, managing risk, and gradually lowering our effective cost basis.Compared with Ethereum itself, the portfolio has performed almost identically, with ETH down…
Why We're Abandoning Long/Short Trading for Ethereum Covered Calls
At the beginning of June, we reached a turning point.Once again, we experienced a scenario that has hurt our portfolio several times over the years. We were holding profitable long positions while simultaneously opening additional short positions using borrowed funds. The idea was to hedge risk and generate returns from both sides of the market.Instead, the market moved sharply against us.As Ethereum fell toward $1,500, tail risk increased dramatically. Our long positions lost value, while our short positions also…
Ethereum Below $1,700: Bottom Signal or Another Leg Down?
Welcome to another hectic week (#146) in digital assets.Last week was yet another brutal one for crypto traders, including options sellers. With Ethereum dipping under $1,700 without any obvious fundamental catalyst (except bitcoin selloff), reinforcing a lesson we’ve learned many times before: crypto markets should not always be approached through a traditional valuation lens. Price action is often driven less by fundamentals and more by volatility, leverage, liquidity, and positioning.What we witnessed last week…
How We Reduced ETH Put Exposure by 14% During the Latest Selloff
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.Going into expiry, we were holding 1.7 covered calls with a $2,100 strike price and 2 short puts at the $2,250 strike. We didn’t wait until expiry…
XRP-Backed ETH Options Strategy: 14.6% Return While Cutting Risk by 80%
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.Instead of selling XRP, the strategy used XRP as collateral for selling ETH put options.…
Fine-Tuning ETH Options Bot: Adding RSI-Based Assignment Logic
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.So far, results have been encouraging: the bot has maintained a 100% win rate during the initial live testing period while automatically managing expiries, scanning new opportunities, rolling winning positions forward, and tracking performance metrics…