GraniteShares 2x Long AMZN Daily ETF (AMZZ) Covered Calls

The GraniteShares 2x Long AMZN Daily ETF is an actively managed fund seeking to provide 200% of the daily performance of Amazon.com, Inc. common stock. The fund utilizes financial instruments, primarily synthetic swap agreements, to achieve its double-leveraged daily target. It is designed as a high-conviction tactical tool for sophisticated traders and investors looking to amplify their short-term bullish exposure to the global leader in e-commerce and cloud computing.

You can sell covered calls on GraniteShares 2x Long AMZN 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 AMZZ (prices last updated Fri 4:16 PM ET):

GraniteShares 2x Long AMZN Daily ETF (AMZZ) Stock Quote
Last Change Bid Ask Volume P/E Market Cap
25.54 -3.23 25.37 25.47 1.7M - 0.0
Covered Calls For GraniteShares 2x Long AMZN Daily ETF (AMZZ)
Expiration Strike Call Bid Net Debit Return
If Flat		 Annualized
Return If Flat
Feb 20 26 0.80 24.67 3.2% 77.9%
Mar 20 26 1.10 24.37 4.5% 38.2%
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Extended Business Description

GraniteShares 2x Long AMZN Daily ETF is a high-leverage investment vehicle designed to deliver twice the daily price performance of Amazon. As a single-stock leveraged ETF, AMZZ allows active market participants to amplify their bullish sentiment on Amazon’s growth across retail, cloud (AWS), and advertising sectors without the complexities of margin accounts or individual options trading.

Core Strategy and Operations

  1. 200% Daily Leveraged Objective: The fund seeks daily investment results, before fees and expenses, of 200% of the daily performance of Amazon common stock. To achieve this 2x target, the fund primarily engages in synthetic swap agreements with major financial institutions. It also maintains a significant portion of its assets in cash and short-term U.S. Treasury obligations to serve as collateral for its derivative positions.
  2. Daily Reset and Compounding: AMZZ 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 is the result of compounding daily returns. In "choppy" or sideways markets, the fund is susceptible to "volatility decay," where the ETF may lose value even if the underlying stock is flat over the same period. It is intended for short-term tactical trades, not long-term holding.
  3. Fee Structure: As of 2026, the fund maintains a net expense ratio of approximately 1.15%. This covers the active management of the swap portfolio and the high transaction costs associated with daily rebalancing in a highly volatile large-cap environment.

Competitive Landscape

AMZZ is the primary competitor to the Direxion Daily AMZN Bull 2X Shares. For investors seeking a blend of moderate leverage and weekly cash flow, the Roundhill AMZN WeeklyPay ETF (1.2x) is a frequent alternative. Those focused purely on generating high-frequency yield typically turn to the YieldMax AMZN Option Income Strategy ETF. On the bearish side, traders looking to hedge against Amazon price drops often utilize the Direxion Daily AMZN Bear 1X Shares.

Strategic Outlook and Innovation

Management focuses on maintaining high liquidity and tight correlation with Amazon’s daily percentage changes to ensure the fund remains a reliable instrument for swing traders. In the 2026 market, AMZZ is often used to trade around major events such as "Prime Day" sales or quarterly earnings reports. The fund is non-diversified and carries substantial risk; a significant one-day drop in Amazon’s stock can lead to a rapid and disproportionate loss of principal. Consequently, it is best suited for experienced investors who monitor their positions intraday and understand the mathematical nuances of leveraged compounding.