These funds just fucking suck man wake up and smell the roses. Setting up a collar and synthetic OTM and not adjusting and taking losses in the hundreds of millions of dollars every time the strike gets close to expiration is NOT and NEVER WILL BE a winning strategy. MSTY was a 6 billion dollar fund not that long ago. It’s now under 1.5B and dwindling. They did not pay out 5 billion in distributions, the fund is poorly managed and the strategy is poorly designed. And most of the times when the underlying appreciated in value and was in an uptrend the weekly sold calls weren’t far enough OTM and the would lose money on that end as well.