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 Tue 4:16 PM ET):
| YieldMax GOOGL Option Income Strategy ETF (GOOY) Stock Quote | ||||||
|---|---|---|---|---|---|---|
| Last | Change | Bid | Ask | Volume | P/E | Market Cap |
| 12.96 | -0.42 | 12.92 | 13.00 | 567K | - | 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 |
|
| Apr 17 | 13 | 0.00 | 13.00 | 0.0% | 0.0% | |
| May 15 | 13 | 0.15 | 12.85 | 1.2% | 8.3% | |
| Subscribers get access to the full covered call chain, and more features. | ||||||
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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.
| Top 10 Open Interest For Apr 17 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | SLV covered calls | 6. | SPY covered calls | 1. | REPL covered calls | |
| 2. | EEM covered calls | 7. | QQQ covered calls | 2. | AAOI covered calls | |
| 3. | NVDA covered calls | 8. | HYG covered calls | 3. | RCAT covered calls | |
| 4. | KWEB covered calls | 9. | EWZ covered calls | 4. | CMPX covered calls | |
| 5. | GLD covered calls | 10. | XLE covered calls | 5. | IREN covered calls | |
Want more examples? GOOS Covered Calls | GORO 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.
