SPYdw backing/4 positions
What backs every SPYdw
S&P 500 call options with staggered 12-month expiries, held through TradFi prime brokers, plus the collateral not spent on options, which earns yield and is the floor. Every SPYdw is backed by the whole portfolio.
- Supply
- –SPYdw, read onchain
- Floor value
- –read onchain
- Positions
- 4staggered 12-month expiries
- Next maturity
- 80d 04:00:35Fri Jan 29
Inside one SPYdw
Locked into the floorGain not yet locked
Each column is one position, by maturity. The dark green part is gain above its strike, which joins the floor when the position matures.
The positions
Per SPYdw. Strikes shown in SPY terms.
| Matures | Strike | SPY vs strike | Locked | Not yet locked | Value |
|---|---|---|---|---|---|
| Oct 30, 2026Next | 682.06 | +12.38% | $25.00 | $3.09 | $28.09 |
| Jan 29, 2027 | 691.97 | +10.77% | $25.36 | $2.73 | $28.09 |
| Apr 30, 2027 | 718.66 | +6.65% | $26.34 | $1.75 | $28.09 |
| Jul 30, 2027 | 747.03 | +2.60% | $27.38 | $0.71 | $28.09 |
| Per SPYdw | $104.09 | $8.29 | $112.38 |
Composition
Collateral read live onchain. Calls valued at the last NAV the operator posted.
| Asset | What it is | Value | Share |
|---|---|---|---|
| S&P 500 calls | 4 positions with staggered 12-month expiries, at the last posted NAV | – | – |
| Collateral | Not spent on options, earning yield. This is the floor. | – | – |
| Total | – | 100% |