Tuttle Capital IBIT 0DTE Covered Call ETF(CBOE:BITK)

BITK aims to provide current income by utilizing a synthetic covered call strategy linked to Bitcoin through the iShares Bitcoin Trust ETF (NASDAQ: IBIT). BITK does not invest directly in Bitcoin. In executing the synthetic covered call strategy, the fund will sell out-of-the-money, zero days to expiration (0DTE) call options on IBIT, which means the call options expire at the end of the day or reset daily. This strategy aims to capture daily premiums and avoid large overnight gaps. Up to 20% of the fund can be used for options with one day to expiration (1DTE), two days to expiration (2DTE), or FLEX options. Writing out-of-the-money call options with short expirations effectively limits potential gains if the price of the IBIT rises significantly. The fund aims for weekly distributions. The fund invests in short-term US Treasurys and money market instruments as collateral for options contracts.