How do I explain this to a client who doesn't know what options are?
Think of your equity portfolio like a vacation house. You already own it. AcuBooth is like renting it out when you're not using it — collecting income while you still own the house. We're not changing what you own. We're not adding risk. We're just putting your assets to work while you sit back.
What do I tell my compliance department?
Tollbooth is our execution engine that manages covered calls on existing client positions. It is not a managed account service. It does not make investment recommendations. All decisions are deterministic and auditable. No AI is used in trade decisions. Options Tier 1 approval is required.
Will my client's stock get called away?
In Preserve Equities mode (delta 20 cap), assignment requires a sustained multi-year upward move exceeding the market's implied expectation. The earnings protection floor, ATR-based rolling trigger, and IV crush post-earnings provide multiple independent layers of protection. No live account has experienced an unwanted involuntary call-away.
What types of client accounts benefit most?
Concentrated single-stock positions with high implied volatility (technology, biotech, growth names). Low cost-basis long-term holdings where the client wants income but cannot afford to trigger a taxable sale event. Business owners with unrestricted stock. Retirees who want income without selling.
My clients have mostly ETF portfolios. Is this still useful?
Yes, with tempered expectations. On a portfolio of SPY, QQQ, and similar index ETFs in a low-volatility environment, Tollbooth may generate 1–2% annualized and may choose not to open calls when expected return falls below threshold. The value proposition is strongest on individual names.
Is this AI trading?
No. Every trade decision is made by a deterministic rules engine — a workflow system with over 12,000 rules and conditions. Every order can be explained with a specific, auditable reason. AI tools are used internally for engineering purposes, not for client-account decisions.
How does it compare to covered call ETFs?
Live account data shows 4–32% annualized outperformance over comparable covered call ETFs. The ETF writes calls on a fixed monthly schedule regardless of conditions. Tollbooth writes when IV is elevated, prefers weeklies, rolls dynamically, and closes positions at optimal points.
What's the minimum position size?
100 shares per underlying (Reg T standard, one contract per 100 shares). A 75-share position cannot have a call written on it. A 100-share position can have one call at a time. There is no formal minimum account size, but economics scale with holding size and volatility.