PBAP Stock Price, Chart, Stats & News

PBAP uses FLEX options in an effort to moderate losses on shares of SPDR S&P 500 ETF Trust (SPY) over a one-year period, starting each April. The fund foregoes upside participation above a certain threshold, which resets annually in exchange for preventing the realization of the first 20% of SPYs losses, as well as the dividend component of SPY because the options are written on the price and not on the total return version of the shares. Should the value of SPY decline by more than 20%, the fund will experience subsequent losses on a one-to-one basis.