WTPI

WTPI is a passively managed fund that utilizes a collateralized put options strategy. The underlying index consists of: 1) short exchange-listed put options on the SPDR S&P 500 ETF Trust (SPY), and 2) a cash collateral account that accrues interest at a theoretical three-month Treasury bill rate on a daily basis. At any point in time, the strategy has two SPY put options that target a monthly premium of 2.5% and whose expiration dates are either the first or third Friday of each month. On a biweekly basis, the fund closes the options contracts one week prior to their expiration date and sells the newly selected SPY puts. Each put option has a strike price that is the at-the-money strike price or the strike price for a SPY put that has a premium closest to 2.5%, whichever is higher. The number of SPY puts sold by the fund varies but is limited by the amount held by the fund in Treasury bills. Investors should note that the fund's potential return is limited to the amount of the option premiums it receives. Prior to October 24, 2022, the fund name was WisdomTree CBOE S&P 500 PutWrite Strategy Fund, which reflects its previous underlying index.