NSE:CKK 6 February 2026

April 17, 2026, 2:09 AM EDT. The YieldMax MSTR Option Income Strategy ETF (MSTY) aims to deliver a 75% yield by selling call options on Strategy (MSTR), a Bitcoin-related stock down about 67% from its peak. MSTY's yield depends on the stock's implied volatility, but its total returns have underperformed MSTR's since launch in early 2024, losing 47% versus 54% on a total-return basis. Unlike traditional covered call ETFs owning the underlying stock, MSTY uses synthetic long positions and short-term calls, which limits upside during volatile markets. Investors should weigh the high yield against the risk of net asset value erosion and capped upside potential, as the ETF offers partial downside protection but may not offset price swings effectively.