Tidal Trust II YieldMax Gold Miners Option Income Strategy ETF(AMEX:GDXY)

GDXY aims to generate monthly income while providing exposure to the price returns of the VanEck Gold Miners ETF (GDX), subject to a cap on potential investment gains. The fund utilizes a synthetic covered call strategy via standardized exchange-traded and FLEX options, which consists of three elements: i) synthetic long exposure, ii) covered call writing, and iii) US Treasurys. The synthetic long exposure seeks to replicate the price movements of GDX by purchasing and selling at-the-money call and put options that generally have one- to six-month terms. To generate income, the fund writes call options with an expiration of one month or less and a strike price of approximately 0%-15% above GDXs current share price. This limits the funds participation in potential gains if GDX shares increase in value. The short put positions fully expose investors to the downside of the stock. Lastly, the fund holds cash and short-term Treasury securities as collateral. Note: the fund does not invest directly in GDX. Thus, investors are not entitled to any GDX distributions.