On October 26, 2023, the portfolio finished the week at $124.02, up $21.34 from $102.68. The reported weekly change was 20.78%, and the journal records the $21.34 as options gains.
It was another fast week for the portfolio. I am not trying to explain the whole result with one headline. Fast moves can help one position and pressure another, which is why the work stays the same: keep the risk in view and do not get careless after a good result.
Market context
From October 19 to October 26, Bitcoin climbed from roughly $28,720 to $34,160, while Ethereum rose from about $1,567 to $1,803. The move coincided with mounting expectations that a U.S. spot-Bitcoin ETF could be approved, and with short covering as Bitcoin broke higher. BlackRock's proposed ETF appearing in a DTCC eligibility file added to the speculation, although the listing was not regulatory approval.
Getting above $120 only a week after crossing $100 feels good. The account is still small, and that is exactly why I need to stay careful. The early gains are a base to protect, not an excuse to raise risk for the sake of a bigger percentage.
How to read a fast market week
Rapid BTC and ETH repricing can affect option positions and underlying holdings differently, which makes total portfolio attribution less simple than a single headline. The $21.34 recorded as options gains is part of this dated record, while the broader market move is separate context rather than proof that one event caused every portfolio change.
Event-driven headlines can change volatility and positioning without establishing causality for an individual result. The DTCC development described above was not regulatory approval, and the episode should be read as a historical example of why risk management remains important during fast markets, not as a forecast that similar events will produce similar outcomes. For broader derivatives-market context, see Options & Futures research.
TerraM
TerraM remained around $0.86. I continue to treat the TerraM token quote separately from the options portfolio because token liquidity is limited.
Ten weekly entries in, the useful lesson is simple. Keep the record honest, keep the position size sensible, and let the portfolio grow only when the trade is worth taking. The next update will be added to the Performance journal.