State Street Utilities Select Sector SPDR Premium Income ETF(AMEX:XLUI)

XLUI seeks income and long-term capital growth through a combination of equity investments and an options call strategy. The fund primarily invests in the shares of the Utilities Select Sector SPDR Fund (XLU), an ETF that tracks a market-cap-weighted index of US Utilities sector stocks from the S&P 500. The Utilities sector includes the following industries as classified by GICS: electric utilities, water utilities, multi-utilities, independent power and renewable electricity producers, and gas utilities. For the options call strategy, 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 utility stocks, or utilize futures contracts.