Direxion Financial Bull 3X ETF (FAS) Covered Calls

Running FAS covered calls helps you generate income from Direxion Financial Bull 3X ETF shares you already own, turning a long stock position into a yield producing asset. A covered call means holding the underlying stock and selling a call option against it, collecting premium in exchange for capping upside at the strike. Use our scanner to find the best FAS covered calls in real time and filter for the strikes, expiries, and premiums that fit your strategy.

A covered call pairs limited risk with a clear income profile. If FAS stays below the strike at expiration, you keep the premium and the shares. If it rises above, you deliver the stock at the strike and still pocket the premium. Selling FAS covered calls works best when implied volatility is elevated, since richer premiums improve the risk reward. Key inputs include strike selection relative to delta, days to expiration, annualized return, and probability of assignment, all of which determine whether a given FAS covered call is worth writing.

The Direxion Daily Financial Bull and Bear 3X ETF seek daily investment results, before fees and expenses, of 300%, or 300% of the inverse (or opposite), of the performance of the Financial Select Sector Index. There is no guarantee the funds will achieve their stated investment objective.