SLAT Fund

SLAT by Regolith

Regolith Wheel Strategy Fund (SLAT) is a fund specializing in options strategies on liquid US market instruments.

The fund applies the Wheel strategy – selling options on the largest US companies (S&P 500, Tesla, Nvidia, Apple, SoFi) listed on NYSE and NASDAQ. Returns are generated through options premiums and are not dependent on market direction – the strategy performs in both rising and falling markets, with higher volatility translating directly into larger premiums.

The fund operates through Interactive Brokers. It is managed by a trader with 15 years of market experience and an ACCA Certified Auditor qualification. Over 16 months of applying the strategy, there has not been a single losing month, with a win rate of 97%.

Target Return

The target return is 20–25% per annum in USD after all fees. The realized XIRR for the period from May 2025 through March 2026 reached 31.73% annualized, net of the success fee. The fund employs the Wheel strategy on liquid US market instruments (SPY, TSLA, NVDA, AAPL, SOFI) – income is generated from options premiums and remains independent of market direction.

Risk Management

SLAT follows a strict risk management framework based on mathematical probability. Options are sold with strikes set more than 10% below the current market price of the underlying and with deltas under 15% – statistically, the probability of option exercise does not exceed 15%.

The fund does not trade during earnings release periods, when volatility spikes beyond normal ranges. The options model itself minimizes loss risk – returns come from premiums and are not tied to market direction. Over 16 months of applying the strategy, there has been no losing month, with a win rate of 97% (265 out of 274 trades).

Why an Options Strategy

Selling options is a way of earning on time and volatility rather than on directional market forecasts. The trader does not attempt to predict direction but receives a premium for taking on a limited obligation. This model performs both in rising and correcting markets – elevated volatility only expands the size of premiums.

Fund Management

The strategy is managed by an experienced portfolio manager who combines a senior position at a major international corporation with a long-standing practice in capital markets. Professional discipline, a systematic approach, and a focus on options strategies form the foundation of the fund's operations.

Deposit and Withdrawal Terms

The minimum investment period in the Regolith Wheel Strategy Fund (SLAT) is 3 months. Following a withdrawal request, funds are transferred to the investor within 1 month.

A one-time fee of 5% is charged on each deposit.

A success fee is applied to each distribution:

• 30% – on investments up to $500,000
• 25% – on investments from $500,000
• 20% – on investments from $1,000,000

1. What is SLAT?

SLAT is an investment fund offered by Regolith that employs the Wheel options strategy on the US market. The fund systematically sells options on five liquid assets – Tesla (TSLA), Nvidia (NVDA), Apple (AAPL), SoFi (SOFI), and the S&P 500 ETF (SPY) – generating returns through options premiums.

2. What is the fund's return profile?

The target return of the strategy is 20–25% per annum in USD. The actual result for the period from May 2025 through March 2026 reached 31.73% annualized. All 11 months of the fund's operation closed with a positive result. Distributions are paid monthly.

3. What is the minimum holding period?

The minimum holding period is 3 months. This timeframe is required for effective options position planning and for maintaining a stable capital pool.

4. How often are distributions paid?

Distributions are paid monthly, based on the results of each trading period, providing consistent cash flow.

5. What is the minimum entry amount?

The minimum entry amount is $375, making the fund accessible to a broad range of participants.

6. What is the level of risk?

The Wheel options strategy is not dependent on market direction – returns are generated from premiums. Strike prices are selected so that the statistical probability of an unfavorable outcome does not exceed 15%. The fund does not trade during earnings release periods and does not use leverage. Over 16 months of applying the strategy, there has not been a single losing month.

7. How does the fund manage risk?

Risk management is built on mathematical probability. Options are sold with strikes set more than 10% below the current market price and with deltas under 15%. In the event of an assignment (option exercise), shares are purchased at a favorable price, after which covered CALL options are written against them – allowing the strategy to continue generating income.

8. What assets does the fund trade?

The fund trades options on five liquid assets across different sectors:

• Tesla (TSLA) – EV, IV 60–80%
• Nvidia (NVDA) – Semiconductors / AI, IV 55–75%
• Apple (AAPL) – BigTech, IV 25–40%
• SoFi (SOFI) – Fintech, IV 50–70%
• S&P 500 ETF (SPY) – broad market, IV 15–25%

9. How often can I deposit or withdraw funds?

Deposits have a 1-month pending period before becoming active in the strategy. Withdrawals are available after the minimum holding period (3 months). A one-time entry fee of 5% applies to each deposit.

10. Under what circumstances can the fund stop working?

Upon reaching the maximum drawdown of 30% of the principal investment, the fund closes all open positions and contacts the investor with an option to either increase the risk level or exit the fund while retaining the remaining capital.

11. What currency does the fund operate in?

All accounting is conducted in US dollars (USD). Capital remains 100% in USD at all times, except during assignment periods when part of the capital is temporarily held in equities.

12. How many trades does the fund execute?

The manager executes between 4 and 10 options trades per week. The average position duration is 8–10 days. The majority of options are weekly, with a smaller portion being monthly – the latter generating the core income.

13. Who manages the fund?

The fund is managed by Ilya Kurishko – a trader with 15 years of experience in capital markets. Operations Director at a major international corporation, ACCA Certified Auditor, CFA Candidate. 19 years of experience in finance and business process optimization.

14. Where are the trading operations conducted?

All operations are executed through Interactive Brokers on a brokerage account held by Regolith and remain under Regolith's control. Account access is retained by Regolith – investor funds are securely protected.

15. What fees apply?

• 5% – one-time entry fee on deposits
• 30% success fee – for investments up to $500,000
• 25% success fee – for investments from $500,000
• 20% success fee – for investments from $1,000,000

The success fee is charged only on realized profit at each distribution.

16. Return illustration

Based on the target return of 20–25% per annum (~1.7–2.1% per month):

$10,000 commitment ($9,500 at work after the 5% entry fee):

• Gross income: $162 – $200 per month
• Net investor return (after 30% success fee): $113 – $140 per month

$600,000 commitment ($570,000 at work after the 5% entry fee):

• Gross income: $9,690 – $11,970 per month
• Net investor return (after 25% success fee): $7,268 – $8,978 per month

$1,100,000 commitment ($1,045,000 at work after the 5% entry fee):

• Gross income: $17,765 – $21,945 per month
• Net investor return (after 20% success fee): $14,212 – $17,556 per month