Simplify Bitcoin Strategy PLUS Income ETF (MAXI) Covered Calls

The Simplify Bitcoin Strategy PLUS Income ETF is an actively managed fund that seeks to provide capital appreciation and income through a three-pronged strategy. It maintains exposure to Bitcoin primarily via spot ETPs and futures, while generating income through a sophisticated options overlay on global equity indices and a portfolio of short-term debt instruments. It is designed for investors seeking a capital-efficient way to combine crypto exposure with regular cash flow.

You can sell covered calls on Simplify Bitcoin Strategy PLUS Income 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 MAXI (prices last updated Fri 4:16 PM ET):

Simplify Bitcoin Strategy PLUS Income ETF (MAXI) Stock Quote
Last Change Bid Ask Volume P/E Market Cap
11.13 +1.32 10.00 11.34 74K - 0.0
Covered Calls For Simplify Bitcoin Strategy PLUS Income ETF (MAXI)
Expiration Strike Call Bid Net Debit Return
If Flat		 Annualized
Return If Flat
Feb 20 11 0.05 11.29 -2.6% -63.3%
Mar 20 11 0.90 10.44 5.4% 45.8%
Subscribers get access to the full covered call chain, and more features.

Want to make money with covered calls?  Sign Up For A Free Trial

Extended Business Description

Simplify Bitcoin Strategy PLUS Income ETF (MAXI) is a multi-strategy investment vehicle designed to offer significant Bitcoin participation while prioritizing regular income. Unlike single-strategy funds, MAXI utilizes a "capital-efficient" approach, aiming to deliver 100% Bitcoin exposure alongside an independent income-generating overlay.

Core Strategy and Operations

  • Bitcoin Strategy: The fund provides exposure to Bitcoin by investing in a combination of spot Bitcoin ETPs, such as the iShares Bitcoin Trust, and Bitcoin futures contracts. The advisor dynamically manages this exposure, which can range between 50% and 200% of the fund’s net assets based on proprietary technical models.
  • Income Strategy: To generate cash flow, the fund employs an options overlay strategy. This involves selling (writing) short-dated put or call spreads on highly liquid global equity indices and various bond or commodity ETFs. This strategy is managed by a sophisticated algorithm designed to harvest premiums while mitigating tail risks.
  • Collateral and Debt Instruments: The fund invests its remaining cash in a portfolio of short-term U.S. Treasury securities and other debt instruments. These holdings serve as collateral for the futures and options positions while contributing an additional layer of interest income.

Distribution Model

MAXI is a monthly-paying fund, providing shareholders with regular distributions sourced from the premiums generated by its option-writing strategy and interest from its fixed-income holdings. Because the fund often provides high yields, investors should be aware that portions of the distribution may be classified as Return of Capital (ROC).

Competitive Landscape

MAXI occupies a unique niche by combining Bitcoin exposure with an equity-index option overlay. Its primary competitors in the Bitcoin income space include the Roundhill Bitcoin Covered Call Strategy ETF and the YieldMax Bitcoin Option Income Strategy ETF, though these peers typically focus on writing options directly on Bitcoin assets rather than broad equity indices. For investors seeking pure Bitcoin exposure without the income component, the iShares Bitcoin Trust and VanEck Bitcoin ETF are the standard unleveraged alternatives.