v3.26.1
Note 9 - Investing in Written Options
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Derivative Instruments and Hedging Activities Disclosure [Text Block]

9 -

Investing in Written Options

 

In writing options, the Trust bears the risk of an unfavorable change in the value of the underlying instrument or the risk that it may not be able to enter into a closing transaction due to an illiquid market. Exercise of a written option could result in the Trust purchasing or selling a security when it otherwise would not, or at a price different from the current market value.

 

The following table shows the fair value, by risk exposure category, on the Statement of Assets and Liabilities as of June 30, 2026:

 

   

Liability Derivatives

  

Fair Value

  

June 30, 2026

            

Equity contracts

  

Options written, at value

   $ 165,163  

 

The average value of option written is $165,163.

 

The following table shows the effect of the written options, by risk exposure category, on the Statement of Operations for the period from April 21, 2026 (Date of Seeding) to June 30, 2026:

 

   

Statement of
Operations Location

  

Net Realized
Gain (Loss)

    

Net Change in Unrealized
Appreciation/Depreciation

  

For the Period from April 21, 2026 (Date of Seeding) to June 30, 2026

                    

Equity contracts

  

Net realized gain from options written

   $ 79,073     $ —  
   

Net change in unrealized appreciation/depreciation on options written

     —       265,776