- MDD
- -6.30%
- Sharpe
- 1.22
- Win rate
- 61.4%
- Vol 30D
- $4.14M
- Age
- 477d
- Skin in game
- 17%
- Perf fee
- 15%
- Lockup
- 14d
- Depositors
- 10
- Leader
- Description
- Sells short-dated BTC and ETH volatility, delta-hedged. Earns the variance premium; loses in a gap.
- Earn spread, hedge residual delta hourly, never warehouse weekend event risk.
- Process
- Weekly strangles, hourly delta hedge, hard stop at 2x premium, no positions through scheduled events.
- Custody
- Capital enters a MAIN illustration account, subscription moves to STRATEGY, exits return to MAIN then redeem. Segregation is illustrative.
| Market | Side | Size | Entry | Mark | uPnL (ROE) | Liq. price | Margin |
|---|---|---|---|---|---|---|---|
| BTC | long | $197,296 | 64,818.98 | 64,200.00 | -$1,884.06 -7.96% | 46,669.67 | $23,676 |
| ETH | long | $132,093 | 3,461.97 | 3,420.00 | -$1,601.55 -10.10% | 2,492.62 | $15,851 |
Community & manager updates
The manager's market reads, rebalance records and monthly letters, alongside depositors' discussion. All simulated.
Discussion
8 posts · 6 replies · 8 participants · Last activity 6 Sept 2026
- 7 Sept 2026via iPhone
Hedge cycle ran clean this week on Options Vol Harvest: residual delta inside band on every check. The net carry after hedge cost is what the 30D shows, nothing more, nothing hidden.
Options Vol Harvest did exactly what the factsheet said last month. Staying, and the lockup is fine.
Checked this against the fills. Consistent with the letter.
- 6 Sept 2026via Web
How would you size Options Vol Harvest inside a book that already holds $Orbit Liquidity Provider (OLP)$ as ballast?
As a satellite: single-digit percent of NAV for an R3. OLP is the ballast; this is not, however good the 30D looks.
- 5 Sept 2026via Web
Scheduled rebalance, largest moves listed.
Market Side Fill Weight BTC long 64,514.16 25.0%→20.0% ETH long 3,452.41 17.0%→11.0% Rebalanced 5 Sept 2026 - 3 Sept 2026via iPhone
How does the 15% performance fee interact with a drawdown, is there a high-water mark?
High-water mark, yes. The performance fee only accrues on new highs, and it is netted before your NAV prints, so what you see is what you keep.
- Lumen Family OfficeDepositor · 2025-091 Sept 2026via Web
Redeemed 20% last month for a tax bill and it paid T+1 after the 14-day lockup, exactly as written. Re-depositing next week.
Agree, and the fills match the published book, which is the only thing I actually check.
- 31 Aug 2026via Web
August letter for Options Vol Harvest: +1.4% for the month, intramonth drawdown inside budget, no rule changes. Fees and lockup unchanged: 15% performance, 14-day lockup. Full attribution is on the factsheet.
Attribution before excuses. Thank you.
Trading involves risk. Past performance is not indicative of future results. Vault NAV can rise or fall.
Lead market-maker. Inventory first, opinion second.
- Official posts
- 4
- Replies
- 2
- Last post
- 7 Sept 2026
Hedge cycle ran clean this week on Options Vol Harvest: residual delta inside band on every check. The net carry after hedge cost is what the 30D shows, nothing more, nothing hidden.All vaults by this manager
Latest rebalances
Fills and weight changes the manager published
| Market | Side | Fill | Weight |
|---|---|---|---|
| BTC | long | 64,514.16 | 25.0%→20.0% |
| ETH | long | 3,452.41 | 17.0%→11.0% |
Trading involves risk. Past performance is not indicative of future results. Vault NAV can rise or fall.