Blog
Ep 111: TerraM Fund’s Strong Recovery Marks 15.66% Weekly Gain and 96.53% YTD Growth
| Weekly updates | 68 seen
As of October 3, 2025, the TerraM crypto fund value stood at $11,162 what is an increase of 15.66% or +$1,511 in dollar terms when compared to the last week. That comes as a strong relief recovery after a sharp decline last week.
We’re still puzzled about what exactly happened last week, aside from it being quarter-end. We’re now using this comeback to strengthen our positions, reduce leverage, and ensure that when the next market selloff arrives, we’ll be better prepared.
From the previous all time high we are still -4.75% away, while YTD funds value has been at 96.53%.
Options IncomeWe sell weekly options every Friday, which is why this update is published at the end of the week.
This week, in total, TerraM fund earned $203 from options premiums,…
Ep 110: TerraM Fund Sees Worst Week of 2025, Yet Holds +69.92% YTD Gain
| Weekly updates | 47 seen
As of September 26, 2025, the TerraM crypto fund value stood at $9,651 what is a decrease of -17.64% or -$2,067 in dollar terms when compared to the last week.
That was definitely one of the worst-performing weeks of the year, rivaling late March/early April when our fund dropped by a similar percentage. Back then, however, the pain felt more. Lessons learned.
Because we use only a very small amount of leverage, we are indeed affected by market moves—but we move together with the broader market.
Certainly such massive move stings for small-sized funds like ours, but it also serves as a reminder of just how volatile crypto markets can be. This week’s drop is largely driven by the broader decline in crypto prices — nothing unexpected. Theoretically, we could…
Why We Decided to Invest in Liberland Dollar (LLD)
| Investment ideas | 102 seen
At Terramatris, we are always exploring opportunities that align with our values of innovation, independence, and forward-thinking. Sometimes, these discoveries come through structured research, and sometimes they appear unexpectedly. Our recent investment into Liberland Dollar (LLD) belongs to the second category — a pleasant surprise during our ongoing research into projects that combine crypto innovation with strong community values.
Over the past year, we’ve attended few crypto-related meetups and brunches in Tbilisi, Georgia, a city that has become a lively hub for blockchain conversations. At nearly every event, we’ve run into Samuela, an enthusiastic Czech representative of Liberland, who passionately shares updates about the micronation and its ambitions.
At one of…
Ep 109: TerraM Fund Weekly Report – Value at $11,719, +2.25% Weekly, +106% YTD
| Weekly updates | 50 seen
As of September 19, 2025, the TerraM crypto fund value stood at $11,719 what is an increase of +2.25% or +$257 in dollar terms when compared to the last week. Absolutely brilliant!
Last few weeks have been quite rewarding in crypto markets, with some type of consolidation forming.
As put sellers, we remain cautious, while maintaining an opportunistic outlook.
YTD our main TerraM fund is +106.33%. If the yearly pattern holds, we may be at the beginning of a run heading into Q4 2025. That said, we remain grounded and cautious.
Options IncomeWe sell weekly options every Friday, which is why this update is published at the end of the week.
This week, in total, we earned $160 from options premiums, translating to a 1.36% weekly return on capital. Our…
Why We Launched Solana Covered Call Growth Fund
| Funds | 142 seen
On September 4, 2025, Terramatris LLC officially launched its Solana Covered Call Growth Fund, a specialized investment vehicle designed to combine the growth potential of Solana (SOL) with disciplined income generation through covered call strategies. The fund began with an initial seed investment of $100 from TerraM and a net asset value (NAV) of 1.00, setting the foundation for future expansion.
Economics Behind the FundThe economic rationale of the fund is straightforward yet ambitious. By holding SOL tokens as the core asset, the fund is directly exposed to the appreciation potential of one of the fastest-growing blockchain ecosystems. At the same time, by systematically selling call options against these holdings, the fund generates additional yield, enhancing returns…
Ep 108: Fund Surges +7.69% This Week, Doubling Value in Under 9 Months
| Weekly updates | 55 seen
As of September 12, 2025, the Terramatris crypto hedge fund value stood at $11,461 what is an increase of +7.69% or +$818 in dollar terms when compared to the last week. Absolutely brilliant!
The week turned out better than expected, with bold moves - particularly in Solana. Most cryptocurrencies are trending higher, and to our surprise, the small position we began building in Plume just a few weeks ago is already up 40%.
As put sellers, we remain cautious, while maintaining an opportunistic outlook.
YTD our crypto hedge fund is +101.79%. Absolutely remarkable - we’ve doubled the fund’s size in less than nine months. If the yearly pattern holds, we may be at the beginning of a run heading into Q4 2025. That said, we remain grounded and cautious.
Options…Episode 107 / Fund Grows 1.86% | New Solana Covered Call Fund & JUP Staking
| Weekly updates | 90 seen
As of September 5, 2025, the Terramatris crypto hedge fund value stood at $10,643 what is an increase of +1.86% or +$194 in dollar terms when compared to the last week. Also we have set another all time high. Awesome!
The past week started with some active moves — we even adjusted one ETH position by rolling it down and forward. However, as the days progressed, market activity slowed, and the week ended relatively calm, with little movement in crypto markets.
At this point, we might be entering a consolidation phase, setting the stage for a binary outcome — either the start of a bullish run or a sharp bearish attack.
As put sellers, we always remain cautious while maintaining an opportunistic outlook.
YTD our crypto hedge fund is +87.38%.
Options Income…Wishful Thinking, Statistics, and Modeling: Where Could Terramatris Fund Be in September 2026?
| Research | 67 seen
On September 2, 2025, the Terramatris crypto hedge fund stands at $10,500. Out of this, roughly $3,500 is low-interest debt, which we are steadily repaying at a rate of $300–450 per month. If nothing changes, we expect to be debt-free by April 2026. Importantly, there is no real pressure to return these funds quickly; and if market conditions turn against us, we believe we could borrow back on similar terms without risk to the core strategy.
This puts Terramatris in a comfortable position: a five-figure portfolio, a clear debt-repayment path, and a robust options premium strategy that has been delivering consistent weekly returns.
The Options Premium EngineOur core edge comes from selling weekly options—primarily covered calls and short puts.
Base case (regular weeks): $…Episode 106 / Ethereum Nears $5K as Terramatris Fund Surges +83.97% YTD
| Weekly updates | 165 seen
As of August 29, 2025, the Terramatris crypto hedge fund value stood at $10,448 what is an increase of +3.02% or +$306 in dollar terms when compared to the last week. Also we have set another all time high. Awesome!
Just like the previous week, this one was also marked by significant volatility. Ethereum (our bread and butter) surged to nearly $5,000 — a new all-time high — before pulling back to $4,360at the time of writing. We believe that if ETH breaks above $5,000, another major rally could follow — perhaps toward $7,000? That’s just speculation, of course. Nevertheless, as put sellers, we always remain cautious while maintaining an opportunistic outlook.
YTD our crypto hedge fund is +83.97%.
Current Long Perpetual Futures (USDT Settled)1.6 ETH – Break-even: $4…Trading Covered Calls on XRP with Deribit
| Crypto Options | 185 seen
At Terramatris we are always exploring new ways to structure option strategies around crypto assets. One of the more interesting challenges we’ve faced recently is figuring out how to trade covered calls on XRP.
Our favorite trading platform, Bybit, unfortunately does not yet offer XRP options. That left us looking for alternatives, and naturally, Deribit became our next candidate. Deribit does offer XRP options, but as always, the devil is in the details.
The Challenge: Collateral Rules on DeribitDeribit lists XRP options, but they are settled in USDC. At the time of writing, there is no way to post XRP directly as collateral for call selling. This complicates things because in a “classic” covered call setup, you’d hold the underlying asset (XRP in this case) and sell…