State Street SPDR S&P North American Natural Resources ETF (NANR) Covered Calls
The SPDR S&P North American Natural Resources ETF (NANR) is a passively managed exchange-traded fund that tracks the S&P BMI North American Natural Resources Index. It provides targeted investment exposure to large- and mid-capitalization U.S. and Canadian companies operating within the energy, materials, and agriculture sectors.
You can sell covered calls on State Street SPDR S&P North American Natural Resources 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 NANR (prices last updated Tue 4:16 PM ET):
| State Street SPDR S&P North American Natural Resources ETF (NANR) Stock Quote | ||||||
|---|---|---|---|---|---|---|
| Last | Change | Bid | Ask | Volume | P/E | Market Cap |
| 81.97 | +0.10 | 78.07 | 86.22 | 769K | - | 0.0 |
| Covered Calls For State Street SPDR S&P North American Natural Resources ETF (NANR) | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Net Debit | Return If Flat |
Annualized Return If Flat |
|
| Mar 20 | 82 | 0.00 | 86.22 | -4.9% | -162.6% | |
| Apr 17 | 82 | 1.25 | 84.97 | -3.5% | -32.8% | |
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NANR is structured to offer investors a way to participate in the performance of commodity-intensive industries. By focusing on North American companies, the fund captures the growth potential of businesses involved in the exploration, production, and distribution of natural resources. The portfolio is rebalanced quarterly, with specific target weightings allocated to three primary categories:
- Energy (45%): Includes companies in oil and gas exploration, production, and refining.
- Metals & Mining (35%): Includes firms engaged in the extraction and processing of precious and industrial metals.
- Agriculture (20%): Includes companies in agricultural production, chemical fertilizers, and food processing.
The fund serves as an "indirect" commodity play; rather than investing in physical commodities or futures, investors gain exposure to the equity of the companies that produce them. This strategy often serves as a tactical hedge against inflation, as these companies’ revenues and profitability tend to correlate with rising commodity prices.
Competitive Landscape
NANR competes with a variety of natural resource and commodity-themed ETFs. Key peers include:
- FlexShares Morningstar Global Upstream Natural Resources ETF (GUNR): A global-focused peer that offers broader international exposure compared to NANR’s North American-specific mandate.
- iShares North American Natural Resources ETF (IGE): A direct competitor that also focuses on the North American natural resources sector, serving as a primary benchmark for performance comparisons.
- Energy Select Sector SPDR Fund (XLE): While strictly energy-focused, it is often held alongside or instead of NANR by investors who want to isolate the energy component of their natural resource allocation.
Strategic Outlook and Risks
The strategic value of NANR is tied to the macro-economic cycle of resource demand and supply. The fund’s performance is sensitive to changes in global commodity prices, regulatory policies in the U.S. and Canada, and geopolitical factors affecting energy and mineral markets. Innovation in this fund is minimal due to its passive, index-tracking structure; however, its appeal remains rooted in its low expense ratio and its ability to provide liquid, broad-based exposure to the fundamental building blocks of the North American economy.
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Want more examples? NAMS Covered Calls | NAT Covered Calls
Risk Disclosure: Trading options involves significant risk and is not suitable for all investors. The information provided on this website is for educational and informational purposes only and does not constitute financial, investment, tax, or legal advice. Nothing contained on this site is an offer to buy or sell, or a solicitation of an offer to buy or sell, any securities or financial instruments.
Covered Call Strategy Risks: While covered call writing is often considered a conservative options strategy, it is not without risk. By selling a covered call, you are limiting your potential upside profit from the underlying stock. You remain exposed to the full downside risk of owning the underlying stock. In the event of a significant decline in the stock price, the premium received may not be sufficient to offset your losses.
No Guarantee of Performance: Past performance is not indicative of future results. Any examples, calculations, or hypothetical scenarios presented on this site are for illustrative purposes only and do not guarantee future returns or outcomes. Market conditions, liquidity, and trading system failures can affect your ability to execute trades at desired prices.
You should consult with a qualified professional advisor and conduct your own due diligence before making any investment decisions. By using this website, you acknowledge that you are responsible for your own investment decisions and agree to release this site and its affiliates from any liability relating to your use of this information. See the OCC's Characteristics and Risks of Standardized Options for more info.
