Roundhill AMD WeeklyPay ETF (AMDW) Covered Calls

The Roundhill AMD WeeklyPay ETF is an actively managed fund designed to provide weekly distributions and enhanced weekly returns corresponding to 120% of the performance of Advanced Micro Devices, Inc. (AMD). Unlike traditional covered call funds, it utilizes total return swap agreements and common stock to achieve modest leverage while generating high-frequency yield. It is intended for investors seeking a combination of amplified single-stock exposure and regular weekly cash flow.

You can sell covered calls on Roundhill AMD WeeklyPay 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 AMDW (prices last updated Fri 4:16 PM ET):

Roundhill AMD WeeklyPay ETF (AMDW) Stock Quote
Last Change Bid Ask Volume P/E Market Cap
44.78 +0.23 43.91 45.82 45K - 0.0
Covered Calls For Roundhill AMD WeeklyPay ETF (AMDW)
Expiration Strike Call Bid Net Debit Return
If Flat		 Annualized
Return If Flat
Feb 20 45 0.05 45.77 -1.7% -77.6%
Mar 20 45 0.65 45.17 -0.4% -4.1%
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Roundhill AMD WeeklyPay ETF is a specialized tactical vehicle that combines single-stock leverage with high-frequency income. As part of a broader suite of weekly-paying products, AMDW is unique in its objective to deliver 1.2 times (120%) the weekly performance of Advanced Micro Devices, Inc. while simultaneously providing shareholders with a recurring paycheck. This structure caters to aggressive income seekers who want to remain bullish on the semiconductor cycle while monetizing market volatility.

Core Strategy and Operations

  1. Leveraged Weekly Exposure: The fund seeks to provide 1.2x the calendar week total return of AMD shares. It achieves this target primarily through total return swap agreements with institutional counterparties and direct holdings of the underlying common stock. Because the leverage resets on the close of the last business day of every calendar week, the fund is specifically tuned for weekly performance rather than daily or monthly compounding.
  2. Weekly Distribution Mechanism: AMDW is designed to declare and pay distributions every week, typically declared on Mondays and paid on Tuesdays. The payout amounts are determined by a formula that considers the recent total return and implied volatility of the underlying stock. In the 2026 market, a significant portion of these payouts may be classified as Return of Capital (ROC) to maintain consistency.
  3. Collateral and Expense Profile: To support its swap positions, the fund invests significantly in short-term U.S. Treasury securities and money market funds. The fund operates with a net expense ratio of 0.99%, which is a competitive fee for a managed leveraged vehicle in the 2026 ETF landscape.

Competitive Landscape

AMDW competes directly for semiconductor-focused income with the YieldMax AMD Option Income Strategy ETF, though AMDW offers 1.2x leverage while the YieldMax alternative uses a synthetic covered call approach. It also competes with sector-wide products like the Roundhill NVDA WeeklyPay ETF and the YieldMax Semiconductor Portfolio Option Income ETF. For investors seeking a broader basket of these strategies, the Roundhill WeeklyPay Universe ETF provides diversified exposure to the entire WeeklyPay suite.

Strategic Outlook and Innovation

The fund represents an evolution in single-stock ETFs by merging the concepts of "geared" performance with "income" harvesting. Management focuses on optimizing the swap reset process to minimize tracking error relative to its 1.2x weekly goal. Innovation within the fund’s operational framework includes the refinement of its distribution formula to account for the increasing frequency of "volatility spikes" in the AI hardware sector. While the 20% leverage provides a performance boost during bullish weeks, it also magnifies losses during downturns, making AMDW a tool for active traders who closely monitor the semiconductor market. The fund remains a benchmark for investors looking to turn high-conviction technology bets into a steady, weekly-verified income stream.