TappAlpha Innovation 100 Growth & Daily Income ETF (TDAQ) Stock Price, Quote, News & History | Benzinga

To achieve its investment objective through the use of a call option strategy that combines a long position in SPY, an exchange-traded fund designed to track the performance of the S&P 500 Index, with short positions in certain call options. The strategy is a daily covered call option strategy that sells out of the money call options with zero days to expiration each day, known as a daily call. Daily call options having zero days to expiration are also known as 0DTE options. In general, an option is a contract that gives the purchaser of the option, in return for a premium, the right to buy from the seller (writer) of the option the security underlying the option at a specified exercise price (the strike price) at a specified expiration date. Through this call option strategy, the Fund sells or writes exchange-traded call options to generate income from option premiums. These may include but are not limited to selling call options on SPY, or selling call options on the S&P 500 Index (SPX) or selling Cboe Mini-SPX Index call options (XSP). XSP options are designed to track the S&P 500 Index but trade at a smaller size compared to a standard SPX options contract.