Petro-Lwa Strategy X · User Manual

The Collar Fortress

Lock the gains · Finance the protection · Hold through ATH

What is this strategy?

You already hold a sizeable stack of BTC or ETH. The Collar protects it with two simultaneous trades: buy a put 10-15% below market (your insurance floor) and sell a call 10-15% above market (the call premium pays for the put). Net cost: near zero. Downside loss is capped at the put strike. Upside is capped at the call strike. You sleep through ATH chop knowing the worst case is bounded.

When does it trigger?

The Pine indicator PETRO-LWA-X.pine fires when both of these are true:

SignalDefault
Bull trend (close > EMA50 > EMA200)true
Within -5% of 180-bar high (close to ATH)DD ≥ -5%

Translation: price is rallying and within shouting distance of all-time highs — the moment smart money locks in the gains.

1

Download the Pine script

⬇ Download PETRO-LWA-X.pine
2

Install on TradingView

Chart → Pine Editor → paste → Save → Add to chart.

▼ Pine Editor TradingView //@version=6 indicator("PETRO-LWA X · Collar Fortress") trend_bull = close > ema50 > ema200 ath = highest(high, 180) setup = trend_bull and dd ≥ -5 label.new("🛡 X · COLLAR") [Save] [Add to chart] CHART · BTCUSD ⤴ATH ATH ceiling 🛡 COLLAR + ADD TO CHART
3

Read the chart label

A gold shield label drops under the bar with the live drawdown — telling you exactly how close to ATH the move is and that protection should be added now.

ATH 105k 🛡 X · COLLAR DD -3.1% · lock gains buy -10% put / sell +10% call BTC/USD · 1D
4

Set up the alert

Right-click → Add alert. Condition: “PETRO X · Collar”. Webhook URL for the bridge.

Create Alert CONDITION PETRO·X ▸ PETRO X · Collar ▸ Once Per Bar Close WEBHOOK URL https://lasiren-bridge.cryptolwa.app/alert MESSAGE {{ticker}} collar window dd {{plot}} CREATE
5

Execute the options trade on Deribit

You already own spot. Pick a 30-DTE expiry. Buy 1 put at -10 to -15% (floor). Sell 1 call at +10 to +15% (ceiling). Pick the two strikes so the put cost roughly equals the call premium received — zero-cost collar. Roll monthly: close expiring legs, open the next month's collar at fresh distances from the new spot.

DERIBIT · BTC ZERO-COST COLLAR · 30 DTE Hold 1 BTC spot near ATH · buy put / sell call LEG STRIKE PREMIUM HOLD SPOT 1.00 BTC at 105k (your fortress wall) ▶ BUY PUT (floor) 93k (-12%) - 1,400 (debit) ◀ SELL CALL (ceiling) 118k (+12%) + 1,400 (credit) NET COST = 0 · downside locked at 93k · upside capped at 118k Roll every 30 days · adjust strikes to current spot

Risk profile

Max LossSpot - Put Strike
Max RewardCall Strike - Spot
Net CostNear Zero

When NOT to use this

  • Early bull market — you'll cap upside far too soon and watch the rocket leave without you.
  • Bear market — better strategies: outright puts or backspreads; the collar is for protecting a winner, not stopping a loser.
  • Without owning the underlying — there's nothing to "collar"; this becomes a naked short call exposure.

Plain-English glossary

CollarLong spot + long OTM put + short OTM call. Range-bounded P&L.
FloorThe protective put strike — your worst-case sell price.
CeilingThe short-call strike — your best-case sell price.
Zero-CostThe premium received from the call covers the premium paid for the put.
ATHAll-Time High. The textbook collar habitat.
RollClose expiring legs and open fresh ones at new strikes/dates.
DrawdownHow far price is below a recent high, in percent.
EMA Stack50 above 200 — confirmation of a real bull trend.