Solana
Fake Volume on Solana: Real Liquidity and What Actually Matters
We recently received an offer to scan Solana tokens for fake volume, concentrated holders, liquidity-pool risks, developer selling and automated risk signals. The logic was straightforward: TerraMatris runs systematic strategies involving SOL, so perhaps a Solana-token scanner could help us manage that exposure.
There is logic in that idea. There is also an important category mistake.
Trading SOL derivatives is not the same as buying a small Solana token through a thin decentralized-exchange pool. Both sit somewhere in the Solana ecosystem, but the market structure, risks and…
Ep 162 / Bitcoin Rolls Higher, ETH Keeps Paying and SOL Gets Called Away
Crypto had another strong but volatile week. From last Friday through Friday morning, Bitcoin moved from around $80,500 to roughly $84,500, Ethereum from around $2,610 to $2,690, while Solana moved from roughly $112 to $117.
The biggest move came early in the week. Bitcoin briefly pushed above $86,000, Ethereum traded above $2,800, and SOL approached $120 before the market cooled and gave back part of the gains.
The move came against a difficult macro backdrop. On September 16, the Federal Reserve raised its target range by 25 basis points to 3.75%–4.00%, while inflation…
Why Rolling SOL Options Can Be More Difficult Than BTC or ETH
TerraMatris research note, September 2026. This article describes our own positions and execution experience. It is not investment advice and does not treat option premium as a substitute for risk management.
On September 4, 2025, TerraMatris launched its dedicated Solana strategy: long SOL exposure with selective covered calls and cash-secured puts. A year is long enough to move past the first impression of a new market. We can now ask a more useful question than whether SOL options exist: after one year of using them, has the market matured enough to support systematic covered-call…
Why We Launched Solana Covered Call Growth Fund
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…
Snipping in DeFi: Tempting, But Not Sustainable
At Terramatris, we constantly evaluate emerging strategies in the decentralized finance (DeFi) landscape — especially those that promise asymmetric upside. One such tactic is snipping (or sniping), a method that’s gained attention for its high-speed, high-risk approach to token trading.
We want to offer a clear and honest take: while snipping can be entertaining and, in rare cases, wildly profitable, it doesn’t align with our long-term trading philosophy.
What Is Snipping in DeFi?Snipping refers to the practice of purchasing newly launched tokens at the exact moment liquidity…
Ep 10 / Crypto Options Portfolio Reaches $124.02
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 contextFrom October 19 to October 26, Bitcoin climbed from roughly $28,720 to $34,160, while Ethereum rose from about $1,567…
Ep 9 / Options Income Takes the Portfolio Above $100
On October 19, 2023, the portfolio crossed $100 for the first time, reaching $102.68. It was up $9.82 from $92.86, a reported change of 10.58%. The $9.82 was recorded as options income.
Passing $100 is a small milestone, but I am not treating it as a finish line. The portfolio started with $5.38, so the change is visible. It does not change the risk in the options positions or make a double-digit week normal.
Market contextFrom October 12 to October 19, Bitcoin rose from roughly $26,760 to $28,720, a gain of about 7%, while Ethereum moved from around $1,540 to $1,567.…
Ep 6 / ETH Options Income Lifts the Portfolio to $64.21
On September 28, 2023, the portfolio reached $64.21. That is a 22.33% increase from last week's $52.49, with $11.72 in options premium collected.
The weekly result came from options premium. I am trying to build the account through repeated, controlled decisions rather than one oversized bet.
Market contextFrom September 21 to September 28, Bitcoin rose from roughly $26,570 to $27,020, while Ethereum recovered from around $1,584 to $1,653. Both moves were constructive but remained below the threshold for a major weekly market move.
It is tempting to look at a 22% week…
Ep 4 / Ethereum Options Premium Builds the Portfolio to $40.37
On September 14, 2023, the portfolio reached $40.37, up $4.48 from $35.89. That works out to 12.48%. The account is still tiny, so I am keeping the percentage in perspective. A few dollars move the number a lot at this stage.
The early work is still centered on Ethereum options premium. I am not trying to predict every move in ETH. I am looking for premium that makes sense against the risk, then keeping the proceeds in the portfolio instead of treating a good week as money already won.
Market contextFrom September 7 to September 14, Bitcoin rose modestly from around $26,240…
Ep 3 / A Quiet Week for Ethereum Options, Portfolio at $35.89
On September 7, 2023, the crypto portfolio moved from $33.66 to $35.89, a gain of $2.23 or 6.63%.
Ethereum was the main focus again. It was a quieter week for the portfolio, but selling options still means staying alert to the risk behind the premium. I was actively managing those positions within the risk limits I had set.
Market contextBetween August 31 and September 7, Bitcoin moved from roughly $25,900 to $26,240, while Ethereum was broadly unchanged around $1,646–$1,648. That quiet backdrop matched the smaller portfolio gain for the week.
The smaller gain is fine…