T-Rex 2X Long Tesla Daily Target ETF (TSLT) Covered Calls

The T-Rex 2X Long Tesla Daily Target ETF is an actively managed exchange-traded fund that seeks to provide 200% of the daily performance of the common stock of Tesla, Inc. The fund primarily utilizes financial instruments, such as swap agreements, to achieve its double-leveraged daily objective. It is designed as a high-conviction tactical tool for sophisticated traders and investors looking to magnify their bullish exposure to the volatility of the global electric vehicle leader.

You can sell covered calls on T-Rex 2X Long Tesla Daily Target ETF to lower risk and earn monthly income. Born To Sell's covered call screener gives you customized search capabilities across all possible covered calls but here are a couple of examples for TSLT (prices last updated Fri 4:16 PM ET):

T-Rex 2X Long Tesla Daily Target ETF (TSLT) Stock Quote
Last Change Bid Ask Volume P/E Market Cap
21.64 +1.44 21.51 21.52 3.9M - 0.0
Covered Calls For T-Rex 2X Long Tesla Daily Target ETF (TSLT)
Expiration Strike Call Bid Net Debit Return
If Flat		 Annualized
Return If Flat
Feb 20 22 1.00 20.52 4.9% 119%
Mar 20 22 1.65 19.87 8.3% 70.5%
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Extended Business Description

T-Rex 2X Long Tesla Daily Target ETF is a high-leverage investment vehicle designed for active participants who wish to capture magnified gains from the daily price action of Tesla. As part of the T-Rex series of single-stock ETFs, TSLT is engineered to provide twice the daily percentage change of the underlying equity, serving as a powerful tool for navigating the intense volatility of the clean energy and autonomous driving sectors.

Core Strategy and Operations

  1. Leveraged Daily Objective: The fund aims to deliver daily investment results, before fees and expenses, of 200% of the daily performance of Tesla. To achieve this 2x target, the fund primarily engages in synthetic swap agreements with major financial institutions (such as Cantor Fitzgerald and Clear Street). These derivatives allow the fund to gain leveraged exposure without the need to hold double the amount of physical shares.
  2. Daily Reset and Compounding: TSLT rebalances its portfolio at the end of every trading session to maintain its 2x leverage target. Because of this daily reset, the fund performance over periods longer than a single day is the result of compounding. In "choppy" or sideways markets, the fund is highly susceptible to "volatility decay," which can erode capital even if the underlying stock price remains stable over a longer duration.
  3. Operational Structure: As of 2026, the fund is actively managed by Tuttle Capital Management and carries an expense ratio of approximately 1.05%. This fee accounts for the costs of managing complex swap portfolios and the high transaction expenses associated with daily rebalancing in a high-beta stock environment.

Competitive Landscape

TSLT operates in a highly competitive niche of "Tesla-bull" products. Its most direct rivals include the Direxion Daily TSLA Bull 2X Shares and the GraniteShares 2x Long TSLA Daily ETF, both of which also offer 200% daily leverage. For traders seeking a lower-cost 2x option, the Leverage Shares 2X Long TSLA Daily ETF is a frequent alternative. Investors looking for high income rather than pure leverage typically turn to the YieldMax TSLA Option Income Strategy ETF. On the bearish side, traders hedge their TSLT positions using the Direxion Daily TSLA Bear 1X Shares or the Tradr 2X Short TSLA Daily ETF.

Strategic Outlook and Innovation

The management team focuses on providing precise execution to minimize tracking error against Tesla's daily price movements. In the 2026 market, TSLT is a staple for momentum traders who believe the convergence of AI, robotics, and energy storage will drive significant short-term rallies. However, the fund is non-diversified and carries extreme risk; a 50% drop in the underlying stock in a single day would theoretically result in a total loss of the fund's value. It is intended for experienced participants who actively monitor their exposure and understand the mathematical risks of leveraged compounding in the high-velocity technology hardware space.