About TerraM token
Each TerraM token corresponds to a 1/10,000th share in the fund, allowing investors to gain exposure to a diversified range of assets and strategies. This not only spreads risk but also offers a chance to benefit from the fund's performance.
- Solana blockchain
- Fully Diluted Market cap: $26,000
- Total supply: 10,000
- In circulation: 1,605 (16.05%)
- On Liquidity pool: 322 (3.22%)
- Price per token: $2.60 | Swap on Raydium, ByBit or OKX.com (Solana supported wallet required)
Not trading advice. Not soliciting for investment.
Funds performance (Weekly results)
We have been tracking and publishing funds weekly performance since August 2023. Our weekly newsletter provides key insights, market movements, and strategic updates, ensuring transparency and informed decision-making for investors.
Trading strategy
At our fund, we specialize in trading options with cryptocurrencies and reinvesting the premiums into a diversified portfolio of crypto assets (buying spot crypto). We prefer puts over calls, but at this moment we are focused on expanding our crypto holdings by selling covered call options on Bitcoin, Ethereum and Solana.
Crypto Research & Analytics
Prior to executing our options trades, we meticulously analyze options Greeks and employ technical analysis methodologies to enhance our comprehensive understanding of the market. Continuously, we actively participate in the cryptocurrency community by visiting hackathons, diligently scouting emerging altcoins and engaging in crypto networking activities to remain abreast of market developments and opportunities.
Holdings / Assets Under Management (AUM)
Our portfolio grows through multiple channels, including options trading premiums, cryptocurrency appreciation and performance fees. Additionally, we occasionally receive complimentary coins through airdrops or rewards (JUP, PENGU). A portion of our portfolio might be allocated for staking, thus generating additional yield.
Below is a detailed list of TerraM token holdings as on March 28, 2025
| Coin | Count | Price | Value |
| BTC | 0.000935 | $86,224 | $80.62 |
| BNB | 0.13106765 | $631 | $82.69 |
| ETH | 1.02862287 | $1,911 | $1,965.67 |
| ETH Deribit | 0.8364 | $1,911 | $1,598.34 |
| EUR | 56.29 | $1.08 | $60.79 |
| JUP | 183.94 | $0.52 | $96.56 |
| PENGU | 3038 | $0.01 | $20.28 |
| SOL | 5.93177352 | $134.03 | $795.04 |
| TerraM | 294.69 | $2.60 | $766.19 |
| TOKEN | 2,514.49 | $0.02 | $42.22 |
| TON | 40.26 | $3.97 | $159.84 |
| USDC | (47.00) | $1.00 | -$47.00 |
| USDT | 105.75 | $1.00 | $105.75 |
| $5,646.36 |
Covered Calls with Long Perpetual Futures
After the extended market crash in February and March 2025, we decided to convert some deep in-the-money put options into covered calls with long futures. Currently, we are managing the following positions using long perpetual futures settled in USDC.
- 0.01 BTC (break even: $106,286)
- 1.1 ETH (break even: $2,768)
- 5 SOL (break even: $164.4)
Holding long futures incurs a performance fee; therefore, we aim to limit our exposure to perpetual contracts by converting to spot once sufficient cash reserves are available.
Risk management
As we expand our portfolio through the sale of put and call options, we employ hedging strategies using both options and futures. In the event of an underperforming put option, our preferred approach is to roll it down and forward, ideally securing a credit. In rare instances, we may accept assignment and transition to covered call writing, utilizing futures with leverage as collateral instead of the underlying coins.