The Bitcoin strategy was initiated on February 22, 2026, within the broader Ethereum strategy framework. The approach focuses on systematically selling 1-day-to-expiry (1 DTE) cash-secured put options on 0.01 BTC.
Premiums collected from option sales are accumulated and reinvested into spot BTC on a weekly basis (usually Fridays), thereby gradually increasing underlying exposure.
Option Selection Criteria
- Target delta: below -0.10 at initiation
- Short-duration exposure: 1 DTE only
- Position size: 0.01 BTC per contract
Risk Management and Adjustments
- In the event of adverse price movement (“challenged” positions), the strategy prioritizes rolling positions down and forward to maintain favorable strike placement and extend duration.
- At the current stage, the strategy is not designed to take physical BTC assignment; avoiding assignment remains an operational objective.
This structure allows for controlled premium generation while incrementally building spot BTC exposure through disciplined reinvestment.