Petro-Lwa Strategy VI · User Manual

The Covered Call Yield Generator

Own the asset · Sell the ceiling · Harvest monthly income

What is this strategy?

You already own spot BTC or ETH. Every month you sell one OTM call against your stack — typically +10-15% above the current price. You pocket the premium up front. If the asset stays below the strike at expiry, you keep both the coins and the premium. If price rallies above the strike, your coins are "called away" (sold at the strike) — you still keep the premium plus the price appreciation up to the strike. Crypto's sky-high implied volatility makes monthly yields of 3-8% realistic.

When does it trigger?

The Pine indicator PETRO-LWA-VI.pine fires when all of these are true:

SignalDefault
Bull trend (close > EMA50 > EMA200)true
RSI(14) inside healthy zone45 ≤ RSI ≤ 75
IV Rank rich enough to sell≥ 35

Translation: price is going up steadily but not overheated, and the call premium is fat enough to harvest.

1

Download the Pine script

⬇ Download PETRO-LWA-VI.pine
2

Install on TradingView

BTC or ETH chart → Pine Editor → paste → Save → Add to chart.

▼ Pine Editor TradingView //@version=6 indicator("PETRO-LWA VI · Covered Call") trend_bull = close > ema50 > ema200 setup = trend_bull and 45 ≤ rsi ≤ 75 and iv_rank ≥ 35 label.new("🟢 VI · COVERED CALL") [Save] [Add to chart] CHART · BTCUSD ⤴ short call ceiling +12% 🟢 SELL CALL + ADD TO CHART
3

Read the chart label

A green triangle appears under the bar with live RSI and IV-rank values, telling you the next monthly call can be sold.

🟢 VI · COVERED CALL RSI 58 · IV 42 sell next-month +12% call BTC/USD · 1D
4

Set up the alert

Right-click → Add alert. Condition: “PETRO VI · Covered Call”. Webhook URL for the bridge.

Create Alert CONDITION PETRO·VI ▸ PETRO VI · Covered Call ▸ Once Per Bar Close WEBHOOK URL https://lasiren-bridge.cryptolwa.app/alert MESSAGE {{ticker}} covered call rsi {{plot}} CREATE
5

Execute the options trade on Deribit

You should already hold spot BTC or ETH. Pick a 25-35 DTE expiry and sell 1 call at +10-15% above current price for each coin you own. Premium lands in your wallet immediately. If exercised at expiry, the coins get sold at the strike — you simply repurchase and write another call. If unexercised, write another call against the same coins.

DERIBIT · BTC COVERED CALL · 30 DTE Hold 1 BTC spot · sell 1 OTM call against it LEG STRIKE PREMIUM HOLD SPOT 1.00 BTC at 100k (your collateral) ◀ SELL 1 CALL 112k (+12%) + 2,500 (credit) YIELD: 2,500 / 100,000 = 2.5% in 30 days · ~30% annualised If BTC closes > 112k → coin assigned at 112k. Total return = 14.5% in 30 days. If BTC closes ≤ 112k → keep coin AND premium. Write another call next month.

Risk profile

Max LossSpot Decline - Premium
Max RewardStrike + Premium
Monthly Yield3-8%

When NOT to use this

  • Strong vertical breakout in progress — your called-away coins miss the meat of the rally.
  • Bear market — premium income won't compensate for spot losses; the covered call is only a "yield" trade, not a hedge.
  • Altcoins with catastrophic downside risk — Cohen's rule: never write covered calls on assets that can go to zero.

Plain-English glossary

Covered CallSelling a call against spot you already own — "covered" because you can deliver the coins.
StrikeThe price at which you're agreeing to sell, if the buyer chooses to exercise.
AssignmentYou're called to deliver the coins because the buyer exercised the option.
OTM"Out of the money" — strike above the current price (for calls).
DTEDays to expiry. 25-35 DTE is the covered-call sweet spot.
IV RankToday's volatility on a 0-100 scale vs. the last year. Higher = richer premium.
RollBuy back the existing call and sell a further-dated/higher-strike one.
Cash-settledOn Deribit, no actual coin changes hands — only cash difference settles.