This fund primarily dedicates a minimum of 80% of its net assets to FLexible EXchange® Options (FLEX Options). These options derive their value from the SPDR® S&P 500® ETF Trust, an underlying exchange-traded fund regulated by the Investment Company Act of 1940. The Underlying ETF itself aims to replicate the investment performance of the S&P 500 Index, which serves as a market-capitalization-weighted benchmark for 500 prominent, large-capitalization U.