Overview
The SPY Theta Capture Overlay™ is a rules based, non directional options income framework designed to systematically monetize time decay and implied volatility in SPY options.
The framework operates on a short-term cadence and deploys capital only when predefined conditions are favorable.
This is an income overlay — not a directional trading strategy.
Rules-Based
Non-Directional
Daily-Weekly Cadence
Conditional Entry
Structural Edge
Structural Opportunity
The framework monetizes three persistent market dynamics:
• Daily-Weekly option decay
• Short term implied volatility
• Structural overpricing
No market prediction is required.
Risk & Governance
Risk Framework
• Defined maximum loss per unit, known prior to entry
• Mandatory protection
• Conditional alignment during elevated risk regimes
• No exposure during events
• Selective limitation to exposure
Risk is bounded, mechanical, and survivable by design.
Capital & Deployment
Capital Efficiency
• Discrete capital deployment
• Scaling via position, not leverage
• Capacity constrained
The framework is intentionally licensed to a limited number of partners to protect execution quality. All methodology and risk rules are proprietary and only available under NDA.