Once again the crypto bullish force has recovered in just 5 days half of a -25% BTCUSD drawdown saving the asset from what it seemed to be the first big negative return after 7 consecutive positive months, to having a small loss of -1.71%.
As we mentioned in our previous report, given our countercyclical approach, we expected larger price movements, thus hedging the downside risk was a priority which we fulfilled successfully.
Implied volatility spiked ~20% but didn ́t reach the levels we were expecting for selling OTM Put options, hence we kept our positions in the carry trade from perps and futures.
We are expecting a further increase in volatility, so we are extra cautious to the downside on each position that we are executing.
During April we mostly traded a carry trade that generated a net income of +0.97%
We may start implementing carry trades over alt-coins through a coded bot and we will wait for an IV expansion to re-enter into options.
Teks Alpha Performance (%)