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About Tidal Trust II YieldMax CVNA Option Income Strategy ETF
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Inception date
Jan 29, 2025
Structure
Open-Ended Fund
Distributes
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Tax on distributions
Qualified dividends
Primary advisor
Tidal Investments LLC
Distributor
Foreside Fund Services LLC
CVNY aims for monthly income while providing exposure to the price returns of Carvana stocks (CVNA), subject to a cap on potential investment gains. The fund utilizes a synthetic covered call strategy via standardized exchange-traded and FLEX options, consisting of synthetic long exposure, covered call writing, and US Treasurys. The synthetic long exposure seeks to replicate the price movements of CVNA by purchasing and selling at-the-money call and put options that generally have 1- to 6-month terms. To generate income, the fund writes call options with an expiration of 1 month or less and a strike price of 0-15% above CVNAs current share price. This limits the funds' participation in potential gains if shares increase in value. The short put positions fully expose investors to the stocks downside. The fund holds cash and short-term Treasury securities as collateral. Note: the fund does not invest directly in Carvana stocks. Thus, investors are not entitled to any CVNA dividends.
Classification
What's in the fund
Exposure type
Government
Mutual fund
Stock breakdown by region
Displays a symbol's price movements over previous years to identify recurring trends.