>>60558619 (OP)You can treat uniswap LPs as essentially perpetual short puts, and open multiple concrentrated range positions (if v3 or v4) to get a constant negative gamma and, assuming constant volume, constant theta within the majority of the range. Right now, unless you are actively rebalancing the pool at a pretty tight range, selling long dated puts on ETHA and buying them back a month later offers higher yield, so LPs are pretty crowded and may not be worthwhile for ETH-USDC pools.
I hope eventually one of the major protocols like AAVE implements support for borrowing arbitrary LP positions, because then you can have a full-featured perpetual options market onchain.