VegaShares SPX NDX RTY Premium Income ETF (ODTE) Stock Price, Quote, News & History | Benzinga

The Fund seeks to achieve its investment objectives by employing a covered call strategy using a combination of the (i) S&P 500 Index (SPX), (ii) Nasdaq-100 Index (NDX), and (iii) Russell 2000 Index (RTY) as the reference assets. However, the Fund has no set target allocation among the indexes, the respective weighting exposure to each of the indexes, for both the long exposure and sold call options, is actively managed based on the adviser's quantitative framework. The framework incorporates multiple factors, including, each index's implied volatility versus its historical implied or realized volatility, index implied correlation, options liquidity, and expected risk-adjusted return. This strategy seeks to provide both (1) current income on a weekly basis and (2) exposure to the price return of the indexes listed above. The Fund has adopted a non-fundamental investment policy that, under normal circumstances, the Fund will invest at least 80 percent of its net assets (plus any borrowings for investment purposes) in the constituents of the S&P 500 Index, Nasdaq-100 Index, and/or (iii) Russell 2000 Index and/or instruments linked to the constituents of these indexes. The Fund defines an investment in these indexes and their constituents to include ETFs that track an index as well as instruments that have economic characteristics substantially similar to an investment in the constituents of an index.