Running YYY covered calls helps you generate income from Amplify CEF High Income 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 YYY 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 YYY 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 YYY 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 YYY covered call is worth writing.
Amplify CEF High Income ETF (YYY)1 is a portfolio of 60 closed-end funds (CEFs) based on a rules based index. The Nasdaq CEF High Income Index selects CEFs ranked highest overall by Nasdaq in the following factors: Yield, Discount to Net Asset Value (NAV), and Liquidity. This investment approach results in a portfolio which contains a variety of asset classes, investment strategies and asset managers.
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