The YieldMax PYPL Option Income Strategy ETF (PYPY) is an actively managed ETF launched on September 25, 2023, designed to generate monthly income through a synthetic covered call strategy. It provides indirect exposure to PayPal Holdings, Inc. (PYPL) stock, using options contracts to collect premiums while capping potential gains. Distributions are paid monthly, with a high yield (e.g., 65.61% as of August 2025), though subject to market volatility and risks.
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