Direxion Small Cap Bull 3X ETF (TNA) Covered Calls

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

A covered call is one of the most widely used options strategies because it pairs limited risk with a clear income profile: if TNA 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 TNA covered calls works best when implied volatility is elevated, since richer premiums improve the risk-reward. Key inputs to evaluate include strike selection relative to delta, days to expiration, annualized return, and the probability of assignment — all of which determine whether a given Direxion Small Cap Bull 3X ETF covered call is worth writing.

The Direxion Daily Small Cap Bull and Bear 3X ETFs seek the daily investment results, before fees and expenses, of 300%, or 300% of the inverse (or opposite), of the performance of the Russell 2000 Index. There is no guarantee the funds will achieve their stated investment objectives.

Income-focused investors, long-term TNA holders, and systematic premium sellers all face the same challenge: finding the covered call strike and expiry that balances yield against the risk of being called away. Our scanner ranks covered calls by annualized return, downside protection, and probability of profit, so selling TNA covered calls becomes a measured decision instead of a guess. Stop eyeballing the chain — let the best Direxion Small Cap Bull 3X ETF covered calls come to you, already filtered for the metrics that matter.