AS-OF
timestamp
US close
snapshot
Meaning: The timestamp for the latest processed snapshot (often aligned to the last U.S. market close).
Why it matters (reading): Holidays/delays can keep the same “as-of” date. Don’t assume “today” unless the label updated.
Where you’ll see it: Hub/Ticker header badges and update labels.
Common misread: treating stale “as-of” as a live feed.
CYCLE
window
ex-date to ex-date
accumulation
Meaning: The active accumulation window used to summarize cashflow evidence (often ex-date → next ex-date).
Why it matters (reading): The same fund can look different depending on where you are in the window.
Where you’ll see it: Hub countdown / cycle chips / Ticker header.
Common misread: comparing two dates without matching the same cycle window.
EX-DATE
distribution
timing
calendar
Meaning: Ex-dividend date (market convention). Price mechanics around this date can confuse interpretations.
Why it matters (reading): DiviTracker uses ex-date as a practical boundary for cycle labeling and comparisons.
Where you’ll see it: Hub countdown / cycle label / distribution tables.
Common misread: assuming “ex-date = funding result” (it’s a calendar boundary, not cashflow proof).
RECORD DATE
calendar
shareholder record
distribution
Meaning: The date used to determine which shareholders are entitled to receive the distribution.
Why it matters (reading): Often close to ex-date; don’t confuse record date with pay date or funding evidence.
Where you’ll see it: Sponsor distribution announcements / calendars.
Common misread: interpreting record date as “money received.”
PAY DATE
calendar
cash delivery
distribution
Meaning: The date the distribution is paid out to eligible shareholders.
Why it matters (reading): Pay date is a settlement/payment event; it is not proof of how the funding was formed.
Where you’ll see it: Sponsor distribution tables/press releases.
Common misread: treating pay date as the “start of a new cycle.”
DTE (Days To Expiry)
options
time
risk
Meaning: Days remaining until an option contract’s expiry.
Why it matters (reading): Time-to-expiry affects option pricing and roll timing; DTE changes fast.
Where you’ll see it: Holdings tables (options exposure).
Common misread: treating DTE as a quality signal rather than a timing variable.
NOTIONAL
exposure
size
context
Meaning: Approximate exposure size (often underlying price × contracts × multiplier).
Why it matters (reading): Helps understand scale, but not the full risk picture.
Where you’ll see it: Holdings tables and totals.
Common misread: “higher notional = better income.”
UNDERLIER
reference
driver
context
Meaning: The underlying reference asset/security for the option strategy.
Why it matters (reading): Many cashflow outcomes are path-dependent on the underlier’s movement.
Where you’ll see it: Ticker header summary blocks.
Common misread: ignoring underlier moves and focusing only on the distribution number.
AUM
fund size
scale
context
Meaning: Assets under management (approximate fund size).
Why it matters (reading): Scale can change how trades/holdings look; it’s context, not a buy/sell signal.
Where you’ll see it: Ticker summary blocks.
Common misread: “bigger AUM = safer outcome.”
SHARES OUT
share count
dilution
per-share math
Meaning: Shares outstanding (share count used for per-share scaling).
Why it matters (reading): Per-share figures can move when share counts change.
Where you’ll see it: Ticker summary blocks.
Common misread: assuming per-share changes always come from trading only.
CASHFLOW (/SH)
income-source
per share
cycle-to-date
Meaning: Per-share view of realized cashflow evidence within the active cycle window.
Why it matters (reading): It helps compare tickers with different scale. It is not a promise of the next distribution.
Where you’ll see it: Hub cards and cycle summaries.
Common misread: treating it as “guaranteed next payout.”
INTRADAY
daily move
snapshot
context
Meaning: The price move within the day (often shown vs prior close).
Why it matters (reading): Useful for context, but not a cashflow proof. Don’t mix “today’s move” with cycle funding.
Where you’ll see it: Hub cards / intraday labels.
Common misread: treating intraday as a weekly income predictor.
COVERAGE
data completeness
window
quality
Meaning: A label describing how complete the dataset is for the stated window (e.g., cycle-to-date coverage).
Why it matters (reading): If coverage is partial, conclusions are weaker. Treat numbers as “in-progress.”
Where you’ll see it: Ticker header badges/labels.
Common misread: assuming partial coverage equals final results.
ROLL
position management
timing/strike change
multiple rows
Meaning: Adjusting an existing position by closing and reopening with different terms (e.g., expiry or strike).
Why it matters (reading): Activity may appear across multiple rows/days; interpret the change as a sequence, not a single line.
Where you’ll see it: Trades/log sections as clusters of related actions.
Common misread: reading one line item as the “result” without considering the sequence.
SETTLE
expiry
final outcome
timing sensitive
Meaning: Settlement at expiry or close of a contract’s life.
Why it matters (reading): Values can change around settlement timing; always check the “as-of” label.
Where you’ll see it: timeline markers or rows near expiry events.
Common misread: treating a settlement-day snapshot as a stable long-term pattern.
ITM (In-The-Money)
status
snapshot
not a forecast
Meaning: A status describing whether a contract has intrinsic value at a given underlying price.
Why it matters (reading): Useful as a “temperature check” of exposure, but it can change quickly.
Where you’ll see it: holdings/exposure summaries or badges.
Common misread: interpreting ITM as certainty about future outcomes.
OTM (Out-Of-The-Money)
status
time value
can flip
Meaning: A status describing whether a contract has no intrinsic value at a given underlying price.
Why it matters (reading): OTM status is time-sensitive; treat it as a snapshot rather than a conclusion.
Where you’ll see it: holdings/exposure summaries or badges.
Common misread: assuming OTM today implies OTM at expiry.
NAV
net asset value
reference
timestamped
Meaning: Net Asset Value, typically calculated by the fund and reported with a specific timestamp.
Why it matters (reading): NAV and market price can reference different times; compare using the same “as-of” context.
Where you’ll see it: header/summary blocks or pricing context sections.
Common misread: assuming NAV is always synchronized with the market price timestamp.
Premium / Discount
market vs NAV
context signal
not a verdict
Meaning: The difference between market price and NAV, expressed as a percentage.
Why it matters (reading): It can be a useful context signal, especially when it is unusually large or persistent.
Where you’ll see it: price context blocks or badges.
Common misread: treating premium/discount as an automatic “buy/sell” indicator.
CC (Covered Call)
strategyincome vs upsidepath-dependent
Meaning: Selling call options against an existing exposure (covered by underlying or equivalent exposure).
Why it matters (reading): Premium can support weekly income, but upside is often capped and outcomes depend on volatility and path.
Where you’ll see it: Type badge in trades.
Common misread: “premium = guaranteed profit.”
CSPREAD (Call Spread)
strategydefined rangetwo legs
Meaning: A call position using two strikes (buy one / sell one) to shape payoff.
Why it matters (reading): Payoff is bounded; leg-by-leg rows can look confusing without reading as one structure.
Where you’ll see it: Type badge + multiple related trade rows.
Common misread: judging each leg as a standalone bet.
PSPREAD (Put Spread)
strategydownside shapetwo legs
Meaning: A put position using two strikes (buy one / sell one) to shape downside payoff.
Why it matters (reading): It can reduce cost or hedge exposure, but interpretation requires reading both legs together.
Where you’ll see it: Type badge + paired rows around the same expiry.
Common misread: “a put spread means bearish forever.”
DIA (Diagonal)
strategydifferent expiriesroll-friendly
Meaning: Two-leg structure using different expiries (and often different strikes).
Why it matters (reading): Timing/expiry difference is the point; snapshots can mislead if you ignore term structure.
Where you’ll see it: Type badge + legs with different expiry dates.
Common misread: thinking “diagonal = just a spread.”
SYN (Synthetic Position)
structurereplicated exposureoptions combo
Meaning: Options combination designed to mimic underlying exposure (or a component of it).
Why it matters (reading): Exposure may exist without holding the underlying directly; read “what it behaves like,” not just holdings labels.
Where you’ll see it: Type badge; sometimes paired with multiple legs.
Common misread: assuming no underlying holding means “no exposure.”
DERIVED
aggregationcomputednot official label
Meaning: A derived/aggregated value or grouping used for readability (not necessarily an official fund label).
Why it matters (reading): Helpful for tracking “income source flow,” but confirm the as-of timestamp and data coverage.
Where you’ll see it: Badges or summary rows indicating computed grouping.
Common misread: treating derived figures as audited fund reports.
BTO (Buy To Open)
trade tagopens positionnot P/L
Meaning: Opening a new position by buying.
Why it matters (reading): Open/close tags describe intent/position lifecycle, not whether the trade was profitable.
Where you’ll see it: Trade badges/log rows.
Common misread: “BTO means bullish/profitable.”
STO (Sell To Open)
trade tagopens shortpremium source
Meaning: Opening a new short option position by selling.
Why it matters (reading): Often the step that produces option premium; risk interpretation depends on the overall structure.
Where you’ll see it: Trade badges/log rows.
Common misread: “STO is always safe income.”
BTC (Buy To Close)
trade tagcloses shortrisk management
Meaning: Closing an existing short position by buying back.
Why it matters (reading): Can reflect profit-taking, loss control, or roll preparation—read together with adjacent actions.
Where you’ll see it: Trade badges near roll/settlement periods.
Common misread: “BTC = loss” (not always).
STC (Sell To Close)
trade tagcloses longposition lifecycle
Meaning: Closing an existing long position by selling.
Why it matters (reading): Often paired with new opens/rolls; interpret as part of a sequence.
Where you’ll see it: Trade badges/log rows.
Common misread: “STC means the strategy ended.”
CR (Credit)
cashflowpremium innot net profit
Meaning: Net premium received (cash in) for a trade/leg.
Why it matters (reading): Credit is a cashflow component; the final outcome depends on subsequent closes/settlement and underlying moves.
Where you’ll see it: Side/flow badges in trade rows.
Common misread: “credit equals realized profit.”
DB (Debit)
cashflowpremium outcontext needed
Meaning: Net premium paid (cash out) for a trade/leg.
Why it matters (reading): Debit can be a cost to close risk, reposition, or hedge—interpret within the sequence.
Where you’ll see it: Side/flow badges in trade rows.
Common misread: “debit means the trade failed.”
B (Buy)
directionaction labelnot a signal
Meaning: A buy-side action label used in logs/badges.
Why it matters (reading): “Buy” describes an action, not a recommendation or a guaranteed positive expectation.
Where you’ll see it: Side badges on trade rows.
Common misread: treating it as a “bullish signal.”
S (Sell)
directionaction labelnot a signal
Meaning: A sell-side action label used in logs/badges.
Why it matters (reading): “Sell” often appears in option premium generation; risk depends on the whole structure, not the label.
Where you’ll see it: Side badges on trade rows.
Common misread: assuming “sell = bearish view.”
ROLL_UP
position managementhigher strikesequence
Meaning: Rolling a position to a higher strike (often with a new expiry).
Why it matters (reading): Usually part of risk/return reshaping; interpret together with the close/open rows.
Where you’ll see it: Tag badges near related roll clusters.
Common misread: reading it as a single isolated event.
ROLL_DOWN
position managementlower strikesequence
Meaning: Rolling a position to a lower strike (often with a new expiry).
Why it matters (reading): Often used to adjust exposure after price moves; meaning depends on the context and sequence.
Where you’ll see it: Tag badges near related roll clusters.
Common misread: assuming it always indicates “panic.”
ROC (Return of Capital)
tax label
preliminary
not a quality score
Meaning: A tax characterization label applied to distributions, indicating a portion is classified as return of capital rather than ordinary income or capital gains. For option-income ETFs, ROC estimates are released before final year-end reclassification.
Why it matters (reading): A high estimated ROC % does not mean the fund is "returning your money" in an economic sense — it reflects how the IRS classifies the distribution at the time of filing. Final reclassification can differ significantly from preliminary estimates.
Where you'll see it: T-series ticker notes, Hub table ROC% column, distribution tables.
Common misread: treating estimated ROC as a fund quality signal or as proof that no income was generated.
Distribution Rate
annualized
against NAV
not total return
Meaning: The annualized distribution amount expressed as a percentage of NAV (or market price, depending on the source). Calculated as: (distribution per share × distribution frequency) ÷ NAV.
Why it matters (reading): Distribution Rate answers "how much is being paid out relative to fund value" — it does not tell you whether the fund is growing, shrinking, or generating net income. A 100%+ rate does not mean 100% of NAV is being returned annually.
Where you'll see it: T-series ticker notes, fund comparison tables, sponsor fund pages.
Common misread: equating Distribution Rate with total return or yield on cost; confusing it with SEC Yield.
30-Day SEC Yield
standardized
income minus expenses
excludes option premium
Meaning: A standardized yield calculation mandated by the SEC, based on net investment income (dividends, interest, and similar income minus fund expenses) over the trailing 30 days, annualized.
Why it matters (reading): For option-income ETFs, 30-Day SEC Yield typically excludes realized option premium income — which is the primary funding source for distributions. This means SEC Yield often understates the actual cashflow generation of these funds.
Where you'll see it: T-series ticker notes, fund fact sheets, broker platforms.
Common misread: using SEC Yield as a proxy for distribution funding; comparing SEC Yield directly to Distribution Rate without accounting for the option income exclusion.