Resolution Criteria

YES resolves if, at any point between January 1, 2026 and December 31, 2026:

• XLK’s closing price falls 30% or more below its highest closing price earlier in 2026.

Example:
If XLK reaches a 2026 high of $200 and later closes at $140 or below at any date in 2026 → YES.

NO resolves if:

• XLK never experiences a drawdown of 30% or more from its 2026 high during the entire 2026 calendar year.

Resolution Source

• Official daily closing prices for XLK as published by State Street Global Advisors (SSGA) or any reputable financial data provider (e.g., Bloomberg, Refinitiv, Morningstar).

Settlement

• The market settles after the final trading day of 2026.
• Intraday price movements do not affect resolution — only official closing prices count.
• If XLK is delisted or merged during 2026, use the successor fund’s price series if the structure is equivalent; otherwise use the last available closing price.