ProShares S&P 500 Ex-Health Care ETF (SPXV) Covered Calls

Running SPXV covered calls helps you generate income from ProShares S&P 500 Ex-Health Care 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 SPXV 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 SPXV 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 SPXV 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 SPXV covered call is worth writing.

Under normal circumstances, the fund will invest at least 80% of its total assets in component securities of the index. The index and fund seek to provide exposure to the companies of the S&P 500 Index (the S&P 500) with the exception of those companies included in the Health Care Sector.