A rules-based options income strategy designed to seek high current income with disciplined risk management. The fund invests primarily in short-term U.S. Treasury bills while selectively selling short-dated, cash-secured strangles on large-cap, non-biotechnology stocks following significant earnings-driven price gaps, typically using strikes 10% or more out of the money. Far out-of-the-money call options are purchased as tail-risk protection to help mitigate extreme upside moves.
A short-term options income strategy that sells far out-of-the-money strangles on large-cap, non-biotech stocks after major earnings-driven price gaps, seeking to harvest elevated option premiums and rapid time decay. The strategy pairs this with deeply out-of-the-money call protection to help guard against extreme upside tail risk.
*The subsidized SEC yield is calculated with a standardized formula mandated by the SEC. The formula is based on maximum offering price per share and includes the effect of any fee waivers. Without waivers, yields would be reduced. This is also referred to as the “standardized yield,” “30-Day Yield” and “Current Yield”.
*30-Day Median Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For the most recent month-end performance, please call (888) 821-8231.
Short term performance, in particular, is not a good indication of the funds future performance, and an investment should not be made based solely on returns. Market price is the price at which shares in the ETF can be bought or sold on the exchanges during trading hours, while the net asset value (NAV) represents the value of each shares portion of the funds underlying assets and cash at the end of the trading day.