YieldMax MU Option Income Strategy ETF (MUY)

The YieldMax MU Option Income Strategy ETF is an actively managed fund in the YieldMax lineup, advised by Tidal and sub-advised by ZEGA Financial. Its main goal is to generate current income, with a secondary aim of gaining some exposure to the share price of Micron Technology (MU).

The fund does not own Micron shares directly. Instead it builds a synthetic long position using call and put options on the stock and then sells short-dated call options against that position, a synthetic covered-call approach. Option premiums, together with interest from the short-term U.S. Treasuries that serve as collateral, fund its frequent distributions, while its participation in Micron's gains is capped by the calls it sells. It trades on NASDAQ.