Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange Options that reference the price performance of the Invesco QQQ Trust, Series 1. FLEX Options are customized equity or index option contracts that trade on an exchange, but provide investors with the ability to customize key contract terms like exercise prices, styles and expiration dates. The Underlying ETF is an exchange-traded unit investment trust that uses a full replication strategy, meaning it invests in all of the stocks in the Nasdaq-100 Index. Invesco Capital Management LLC serves as the Underlying ETF's sponsor. The investment objective of the Underlying ETF is to track the investment results, before fees and expenses, of the Nasdaq-100 Index. The Nasdaq-100 Index includes 100 of the largest domestic and international non-financial companies listed on Nasdaq, Inc. based on market capitalization. The Fund's performance will not reflect the payment of dividends by the Underlying ETF. See The Underlying ETF for more information.