Bottom line: MSTY seeks very high weekly distributions by writing calls against synthetic exposure to Strategy (formerly MicroStrategy, MSTR). The stock’s extreme volatility—driven by its large Bitcoin holdings—can generate substantial option premiums, attracting income investors who want MSTR-linked cash flow.
It is not a pure MSTR investment or a low-risk yield product. Upside is heavily capped, downside remains largely unprotected, and significant NAV erosion has been common when distributions include large return-of-capital components or when MSTR declines sharply. Concentration and Bitcoin-correlated risk are extreme.
Position size should reflect the very high volatility and structural trade-offs of this single-stock options strategy. Review the latest prospectus, distribution composition, and both MSTR and Bitcoin conditions carefully. This is not investment advice.
Monthly Distributions for MSTY
| Month | Distributions | No. of shares | Net Distribution / share |
|---|---|---|---|
| June 2025 | $796.10 | 553 | $1.4396 |
| May 2025 | $1,284.73 | 553 | $2.3232 |
| April 2025 | $682.90 | 523 | $1.3057 |
| March 2025 | $656.10 | 488 | $1.3445 |
| February 2025 | $844.43 | 424 | $1.9916 |
| January 2025 | $852.65 | 378 | $2.2557 |
| December 2024 | $762.82 | 249 | $3.0635 |
| November 2024 | $981.97 | 226 | $4.3450 |
| October 2024 | $932.40 | 226 | $4.1257 |
| September 2024 | $83.44 | 45 | $1.8542 |
| August 2024 | $87.32 | 45 | $1.9404 |
| Grand Total: | $11,223.80 | 9,049 | $1.2403 |
ETF Investment Summary
| Investment | Shares | Distributions | Purchase price / share | Real price / share | Market price / share |
|---|---|---|---|---|---|
| $57.96 | 2 | $11,307.17 | $23.45 | $28.98 | $14.56 |
Notes:
• Investment = Current Adjusted Cost Basis (after accounting for sells and distributions)
• Purchase price / share = Historical average price of all shares ever bought
• Real price / share = Current adjusted cost basis per remaining share (after distributions reduce basis)
• Market price / share = Latest market price of the ETF
Personal Chart – Real Price vs Real Price + Cumulative Distributions
Blue line = Real Price per share (cost basis after buys, sells & distributions)
Red line = Real Price + Cumulative Net Distributions received so far
Purple line = Cumulative Realised Capital Gains from sales
Green bars = Number of shares held at month-end
When the green bars drop to zero, the blue/red lines also go to zero (full exit of the position).