Tortoise North American Pipeline ETF (TPYP) Covered Calls

Running TPYP covered calls helps you generate income from Tortoise North American Pipeline 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 TPYP 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 TPYP 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 TPYP 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 TPYP covered call is worth writing.

The fund will normally invest at least 80% of its total assets in securities that comprise the underlying index (or depository receipts based on such securities). The underlying index is a proprietary rules-based, capitalization weighted, float adjusted index designed to track the overall performance of equity securities of North American Pipeline Companies. The fund is non-diversified.