A free bot that scans Deribit's options chain every Friday and delivers the best covered call opportunities — three risk profiles, one Telegram message.
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You own BTC or ETH. Right now it's sitting there, making you nothing. A covered call lets you earn income on crypto you already hold — without selling it.
Here's how it works: you sell someone a promise. Specifically, you sell the right for someone to buy your crypto at a higher price by a specific date. They pay you a fee upfront — called the premium. That premium is yours to keep no matter what happens.
When the option expires, one of three things has happened:
The option expires worthless. You keep your crypto and the premium. This is the best outcome — free yield on an asset you were holding anyway.
You sell at the strike price. You keep the premium but miss gains above the strike. You left money on the table, but you still profited.
You still hold your crypto and you still keep the premium. The premium cushions the fall. You're better off than a pure holder.
The core tradeoff of a Bitcoin or Ethereum covered call strategy is simple: you cap your upside in exchange for guaranteed income. If you believe your crypto is going sideways or slowly up, covered calls let you generate yield while you wait.
The scanner
Every Friday, the bot connects to Deribit's live options chain, fetches every active call option for BTC and ETH, and runs them through a scoring algorithm. It evaluates annualized yield, delta, liquidity, time to expiry, and distance from spot — then picks the single best option for each risk profile.
Here's what a real Telegram post looks like:
📊 ETH Covered Call Picks Spot: $2,847.30 🟢 Conservative Strike: $3,200 (12.4% OTM) Expiry: 2026-04-03 (14d) Premium: 0.00410 ETH (~$11.67) Yield: 10.7% ann. Delta: 0.092 | IV: 58.3% 🟡 Balanced Strike: $3,000 (5.4% OTM) Expiry: 2026-03-28 (8d) Premium: 0.01240 ETH (~$35.31) Yield: 56.6% ann. Delta: 0.189 | IV: 62.1% 🔴 Aggressive Strike: $2,900 (1.9% OTM) Expiry: 2026-03-25 (5d) Premium: 0.02850 ETH (~$81.15) Yield: 208.1% ann. Delta: 0.312 | IV: 71.4% 📎 Trade on Deribit How to execute: → Open the link above → Select the Mar 25, 2026 expiry → Find the $2,900 Call → Click Sell, enter your quantity → Use Limit order at the bid price shown
Low delta (0.05–0.15), longer expiry. ~5–15% chance of exercise. For holders who want steady yield with minimal risk of losing their position.
Mid delta (0.12–0.25), medium term. Balances premium income against the probability of being called away. The sweet spot for most.
Higher delta (0.20–0.35), short term. Maximizes premium but carries a real chance the option gets exercised. For active traders.
Accountability
Most "signal" channels cherry-pick their wins. We don't. Every covered call recommendation the bot makes is logged the moment it's posted — the asset, strike, expiry, premium, delta, and the spot price at the time.
Every Friday at 08:30 UTC — right after Deribit's 08:00 settlement — the bot resolves all expired picks. It checks whether each one expired worthless (you kept the premium and your crypto) or got exercised (your crypto was called away at the strike). The actual return is calculated and posted as a settlement summary, then added to the running track record.
You can check the full track record, get a covered call explainer, and more by DMing @CoveredCallScanner_bot directly.
Get started
Join the Telegram channel. Every Friday at 10:00 UTC you'll get the weekly scan with the best BTC and ETH covered call opportunities across three risk levels.
Read the Friday posts. At 08:30 UTC you get settlement results for last week's picks. At 10:00 UTC you get the new scan — each pick includes the instrument, strike, premium, annualized yield, and step-by-step execution instructions with a direct Deribit link.
Act on it (optional). To sell covered calls you need a Deribit account and the underlying asset. The bot gives you the information — you decide if and when to trade.
No shilling, no paid groups, no 50 messages a day. One scan per week with the best risk-adjusted eth options yield and bitcoin covered call opportunities on Deribit.
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