State Street Communication Services Select Sector SPDR Premium Income ETF(AMEX:XLCI)

XLCI seeks current income while offering potential for long-term capital growth through a combination of equity investments and an options call strategy. The fund primarily invests in shares of the Communication Services Select Sector SPDR Fund (XLC), an ETF that tracks a market cap-weighted index of S&P 500 communication services companies, as classified by GICS. The fund generates additional income by selling call options, which may include listed and FLEX Options, with expiration dates of less than one year. Strike prices are set using option delta, which refers to the sensitivity of an option's value relative to changes in price, time, and volatility. The fund typically rolls the short option positions before expiration based on market and liquidity conditions. Additionally, the fund may hold options with different strike prices at any given time, directly invest in communication services stocks, or use futures contracts.