The Daily Reset: Why Tuttle Capital's New 0DTE Strategy for MSTR Is Turning Heads in Options Trading

The covered call ETF space just got shaken up. While most options-based funds stick to weekly or monthly expiration cycles, Tuttle Capital Management has taken a different approach with its latest product—and it’s making waves for a specific reason.

The Problem With Traditional Covered Calls

Here’s the issue that conventional covered call ETFs face: they hold positions over nights and weekends, leaving investors vulnerable to overnight gaps. A stock could gap up or down overnight, eating into returns before the fund can react. It’s a structural friction that’s always been there, but nobody really tackled it head-on.

That’s where daily reset mechanics come in.

Enter the 0DTE Covered Call Strategy

Tuttle Capital’s new 0DTE Covered Call ETF (MSTK) operates on a fundamentally different principle. Instead of holding call options for days or weeks, the fund writes and resets options daily—capturing premium every single trading day while avoiding exposure to overnight market swings.

The mechanics are straightforward:

• Sell call options at market open
• Collect daily premium
• Close positions before day’s end
• Repeat the next trading day

This approach aims to deliver consistent income while reducing a major pain point of traditional structures.

Why MicroStrategy?

MicroStrategy (MSTR) isn’t a random choice. It’s among the most actively traded and volatile single stocks in the market—ideal for daily option writing strategies. High volatility means higher option premiums, and high trading volume ensures the fund can execute trades efficiently without slippage.

The Track Record Behind the Innovation

This isn’t Tuttle Capital’s first rodeo with intraday options strategies. The firm previously launched BITK, an early 0DTE covered call product that validated the intraday, rules-based approach. MSTK extends this playbook to a new underlying, allowing investors to pursue daily option income through a more liquid, widely-followed single stock.

According to Matthew Tuttle, CEO & CIO of Tuttle Capital Management, “By extending the suite to MSTR with MSTK, we’re giving investors another tool to capture daily option income while avoiding the overnight exposure that erodes returns in traditional structures.”

What Investors Need to Know

The income potential comes with tradeoffs. Because 0DTE options move faster and have tighter bid-ask spreads than traditional options, execution timing is critical. A few-minute delay in entering trades can meaningfully impact outcomes. Additionally, 0DTE options still lack the deep secondary liquidity of longer-dated contracts.

The synthetic structure of the fund—deriving stock exposure through options rather than holding shares directly—also means returns may not perfectly track the underlying stock’s performance.

The Bigger Picture

Tuttle Capital Management has built its reputation on breaking conventional wisdom in the ETF space, from shorting ARK strategies to launching inverse Cramer funds. MSTK represents another attempt to solve a real problem in the options income space: how to consistently capture premium without getting blindsided by overnight moves.

Whether this approach resonates with income-focused investors remains to be seen. But the structural case for daily reset mechanics is compelling—especially in an era of 24/7 global markets where overnight gaps are a real risk factor.

The fund carries options-specific risks including volatility sensitivity, liquidity constraints on 0DTE contracts, and the possibility of execution delays. Investors should review the full prospectus before investing.