High Yield Covered Call Writing ETFs... in gold, silver, oil... Continuing the prior post...
Those four ETFs in prior post... not what I want to be long now... Note that the NUSI is touted as better hedged for downside risks... and is vastly under-performing in a down market... which I might attribute to the "managed pace" in decline thus far... being optimized to obviate performance advantages in holding relative to the decay rate in the time value of money in the options. My own response to recognizing that obvious issue in timing risks vs the cost, given the controlled pace in decline... has been to focus more on day trades... using only options nearest expiry... with the time value already wrung out... and exploiting the higher intraday volatility... while avoiding the holding risks delivering a lesser change in a longer averaged holding period. In and out the same day... optimizing entries and exits with trading skills... wins. If you bet right... but hold your bets... you will automatically lose like they are... at least until the pace of the decline accelerates...
Anyway... I still don't want to own the bubble risks... but, also, the point was... they're earning $ on writing covered calls and delivering that as yield...
JEPI currently 7.73%, NUSI 7.69%, RYLD 11.1%, and QYLD 12.08%... which is not shabby...
But, I really would rather try to do that... with stocks I want to own... not ones I don't ? So, a search... not limiting it to that focus... but looking at the highest yielding ETF's... and will count that as a "win"... as it includes two things I think are of value.... First, I see the same thing being applied in gold, silver, and oil shares, and in commodity strategies... tickers are
SLVO Credit Suisse X-Links Silver Shares Covered Call ETN yielding 31.28% and rising quickly
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETNs yielding 21.36% and rising
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN yielding 14.52% and rising
IAUF iShares U.S. ETF Trust - iShares Gold Strategy ETF yielding 7.58% and going vertical
AMLP Alerian MLP ETF (oil) 7.98%
COM Direxion Auspice Broad Commodity Strategy ETF 8.86%
GRES IQ Global Resources ETF 9.00%
Beyond that... a couple of ETF's that might be worth owning when the bottom is in... a few sort of the Cathie Woods serious tech focused type issues... only with a covered call option writing feature adding yield... a few are "tech" loosely... in the sense of "tech as utilities"... so:
BKCH Global X Blockchain ETF 13.10%
UBOT Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 2X Shares 15.16%
CLDL Direxion Daily Cloud Computing Bull 2X Shares 36.71%
WEBL Direxion Daily Dow Jones Internet Bull 3X Shares 53.48%
This in not an all inclusive list based on focus... these are all included in the top 40 by % yield, currently... as reported by FinViz on the search page (link above) ... and I have not validated their numbers... which Yahoo should do...
I did plug the top 40 into the RRG... which, naturally, reflects only relative price momentum, not yield value ? The list also includes high yield funds that are not earning the $ writing covered calls... so, also beware... there are some high yield debt risk issues included... and some writing calls on stocks to avoid, for now, as prior post. But, at the bottom... owning an S&P 500 focused ETF that writes covered calls... will have you beat the performance of the index... which is a lot better than most pros manage to accomplish.
Weekly, daily, and the lists by % change...
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