YieldMax GOOGL Option Income Strategy ETF (GOOY) Covered Calls

The YieldMax GOOGL Option Income Strategy ETF is an actively managed exchange-traded fund that seeks to provide current income and exposure to the share price returns of Alphabet Inc. Class A common stock, subject to a cap on potential gains. The fund employs a synthetic covered call strategy, using a mix of standardized and FLEX options to generate premium income without holding the stock directly.

You can sell covered calls on YieldMax GOOGL Option Income Strategy 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 GOOY (prices last updated Fri 4:16 PM ET):

YieldMax GOOGL Option Income Strategy ETF (GOOY) Stock Quote
Last	Change	Bid	Ask	Volume	P/E	Market Cap
14.02	+0.42	13.99	14.05	376K	-	0.0

Covered Calls For YieldMax GOOGL Option Income Strategy ETF (GOOY)
Expiration	Strike	Call Bid	Net Debit	Return If Flat	Annualized Return If Flat
Mar 20	14	0.15	13.90	0.7%	8.8%
Apr 17	14	0.00	14.05	-0.4%	-2.6%
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Core Business and Products

GOOY is an actively managed ETF that focuses on generating monthly income by harvesting volatility from Alphabet Inc. (GOOGL). The fund does not own shares of the underlying tech giant directly. Instead, it creates synthetic long exposure by buying at-the-money call options and selling at-the-money put options. To generate its characteristic high yields, the fund sells (writes) out-of-the-money call options, collecting option premiums that are distributed to shareholders. The strategy is fully collateralized by a portfolio of short-term U.S. Treasury securities.

Competitive Landscape

As a single-stock derivative income product, GOOY competes with other yield-focused ETFs that target mega-cap technology names. Within the YieldMax suite, investors often compare it to the YieldMax AAPL Option Income Strategy ETF and the YieldMax MSFT Option Income Strategy ETF. It also faces competition from broader tech-income products like the JPMorgan Nasdaq Equity Premium Income ETF and the NEOS Nasdaq-100 High Income ETF. For investors seeking direct ownership of the reference asset without the income-generating overlay, the primary alternative is the Alphabet Inc. common stock.

Strategic Outlook and Innovation

The fund's primary goal is the monetization of equity volatility rather than seeking long-term capital appreciation from the underlying stock. Management actively manages the strike prices and expiration dates of the short call positions to balance the immediate need for high distribution rates with the fund's net asset value stability. Innovation in this space involves the use of FLEX options, which provide the flexibility to customize strike prices and durations beyond standard exchange-listed contracts. The strategy is most effective during periods of sideways or moderately bullish market action, as extreme upside moves will result in the fund's gains being capped by the short call positions.

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