GraniteShares 2x Long TSLA Daily ETF (TSLR) Covered Calls

The GraniteShares 2x Long TSLA Daily ETF is an actively managed exchange-traded fund that seeks to provide double the daily performance of the common stock of Tesla, Inc. The fund utilizes financial instruments such as swap agreements and options to achieve its 200% daily leverage target. It is designed as a tactical tool for sophisticated traders and investors looking to amplify their exposure to the price movements of a global leader in the electric vehicle and clean energy sectors.

You can sell covered calls on GraniteShares 2x Long TSLA Daily 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 TSLR (prices last updated Mon 4:16 PM ET):

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GraniteShares 2x Long TSLA Daily ETF is a high-conviction, single-stock leveraged investment vehicle. Engineered for active market participants, TSLR is designed to track twice the daily percentage change of Tesla. It serves as a "hot sauce" component for traders who have a strong short-term bullish outlook on the innovation, robotics, and energy storage cycles led by the company.

Core Strategy and Operations

1. Leveraged Daily Exposure: The fund aims for daily investment results, before fees and expenses, of 200% of the daily performance of Tesla. To achieve this, the fund primarily enters into synthetic derivative contracts, such as swap agreements, with major financial institutions. It may also hold the underlying equity or use standardized options to maintain its precise 2x leverage profile.
2. Daily Reset and Volatility Decay: TSLR is designed to reset its leverage at the end of every trading session. Because of this daily rebalancing, the fund’s performance over periods longer than a single day can deviate significantly from twice the cumulative return of the underlying stock. In choppy or sideways markets, "volatility decay" can erode the fund's value even if the stock price remains relatively stable, making it a tool for tactical trading rather than long-term holding.
3. Operational Expenses: As of 2026, the fund maintains a net expense ratio of approximately 0.95% to 1.05%, following fee waivers. This cost covers the active management of the swap portfolio and the high transaction costs associated with daily rebalancing in a highly volatile single-stock environment.

Competitive Landscape

TSLR is a primary competitor to the Direxion Daily TSLA Bull 2X Shares, which is the largest fund in the category. It also competes with the T-Rex 2X Long Tesla Daily Target ETF and the Leverage Shares 2X Long TSLA Daily ETF. For investors seeking income rather than pure capital appreciation, the YieldMax TSLA Option Income Strategy ETF is a frequent alternative. Traders looking to hedge or profit from declines in the stock typically turn to the Direxion Daily TSLA Bear 1X Shares or the Tradr 2X Short TSLA Daily ETF.

Strategic Outlook and Innovation

The management team focuses on maintaining high liquidity and minimizing tracking error to ensure the fund remains a reliable instrument for swing traders and institutional hedgers. As the electric vehicle market matures and the focus shifts toward full self-driving (FSD) and autonomous robotics, TSLR is positioned as a high-octane vehicle for capturing the massive intraday moves often associated with these technological pivots. The fund is non-diversified and carries substantial risk; a significant one-day drop in the underlying stock can lead to a rapid loss of principal. Consequently, it is utilized by experienced participants who actively monitor their risk and understand the mathematical impact of leveraged compounding in high-beta tech markets.

Want more examples? TSLQ Covered Calls | TSLS Covered Calls