Amplify SILJ Covered Call ETF(AMEX:SLJY)

SLJY aims for high income and capital appreciation by investing in silver mining companies and a covered call strategy. The fund invests in SILJ shares (an ETF holding smaller silver companies), selected stocks from its portfolio, and silver ETPs. The fund tactically writes out-of-the-money call options to manage volatility with the target of about 18% annualized option income (1.5% monthly premiums). For its silver ETPs, the synthetic covered call strategy seeks to generate premiums by selling call option contracts of about 5-20% out-of-the-money with expiration dates of one month or less. To offset potential losses, the fund may also employ a covered call spread strategy that simultaneously sells and buys a call option with a higher strike price with the same expiration date. The actively managed fund can adjust the size of the written call option contracts or the strike price at any time. SLJY does not guarantee to achieve its target nor make any distribution for any given period.