Industry description
The investment seeks to provide investors with returns (before fees and expenses) of approximately twice any positive price return of the SPDR® S&P 500® ETF Trust.
The fund will invest substantially all of its assets in FLexible EXchange® Options that reference the price performance of the SPDR® S&P 500® ETF Trust. 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 fund is non-diversified.