Elevate Shares has launched a new exchange-traded fund (ETF) under the YieldMax banner that aims to generate monthly income by selling/writing call options on Apple stock. The YieldMax APLY Option Income Strategy ETF (APLY) is an actively managed ETF that seeks current income while also providing exposure to the price returns of AAPL, subject to a limit on potential investment gains.
ETF Newz Says:
APLY does not directly invest in AAPL. The fund uses a synthetic covered call strategy to achieve its investment objectives, providing exposure to AAPL's share price returns, current income from option premiums, and a limit on the fund's participation in any gains of the share price returns of AAPL.