YieldMax HOOD Option Income Strategy ETF (HOOY)

The YieldMax HOOD Option Income Strategy ETF (HOOY) is an actively managed fund that aims to generate monthly income while giving investors partial exposure to the share price of Robinhood Markets (HOOD), the commission-free online brokerage platform.

Rather than owning the stock directly, the fund builds a synthetic covered call position: it combines purchased and sold options to replicate exposure to Robinhood shares and then sells call options on that position to collect premium. It also holds short-term U.S. Treasuries as collateral. The call-writing caps the fund's participation in sharp rallies in the stock, while it remains exposed to declines.

HOOY is part of the YieldMax family of option income ETFs, advised by Tidal Investments with ZEGA Financial as sub-adviser.