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YieldMax SMCI Option Income Strategy ETF

About this fund

YieldMax SMCI Option Income Strategy ETF (SMCY) is a YieldMax option-income ETF that generates its weekly distribution from an options strategy on SMCI. It uses a synthetic covered call approach: the fund collects option premium over the cycle, and that premium is the income source that can fund the distribution. SMCY belongs to Group 2 (weekly distribution cycle).

This page tracks how that income forms inside the current cycle (2026-08-06 to 2026-08-12), rather than only reporting the final distribution number. The tables below show realized trades and current option holdings as evidence of where the cashflow came from. For SMCY, the most recent figures show net per share of $-0.0045, an ETF price of $4.75, and assets under management of $129M.

Read the realized trades first (locked-in outcomes for the cycle so far), then the unrealized holdings as a snapshot of current exposure. Distributions are variable, may include return of capital, and are not guaranteed. Nothing here is investment advice.

Updated 08/13 Cycle (US) 08/06–08/12 (US) Next Ex-date (US) 08/13 (US) Data start (US) 08/06 (US) Income source: realized trades · unrealized holdings

Underlier / Close

SMCI / $31.46

ETF / Price

SMCY / $4.75

AUM

$129M

Shares Out

24,075,000

Trades P/L (REALIZED) — per/share

$-0.0045

Total $-109,255 · Shares 24,075,000

NAV / Premium(Disc.)

NAV —

Premium/Discount —

Trades (P/L) — Covered Call + Structures

Date	Expiry	Type	Legs	Side	Contracts	P_IN	P_OUT	SETTLE	Badges
08/12	08/14	CSPREAD	31.5C/34C	CR	1,500	$525,000	$877,500	$0	ROLL
08/12	08/21	CSPREAD	39C/42C	CR	3,000	$393,000	$186,000	$0	ROLL
08/12	08/21	CSPREAD	39C/42C	CR	5,000	$670,000	$345,000	$0	ROLL
08/12	09/18	CC	28.01C	S	1,500	$1,455,000	$0	$0	CR
08/12	09/18	SYN	28.01P	B	1,500	$0	$60,000	$0	DB
08/11	08/14	CSPREAD	31C/33.5C	CR	900	$121,500	$202,500	$0	ROLL
08/11	09/18	CC	28.01C	S	900	$477,000	$0	$0	CR
08/11	09/18	SYN	28.01P	B	900	$0	$171,000	$0	DB
08/07	08/07	CSPREAD	28.5C/30.5C	CR	4,000	$80,000	$712,000	$0	ROLL
08/07	08/07	CSPREAD	28.5C/30.5C	CR	5,000	$160,000	$915,000	$0	ROLL
08/07	08/07	CSPREAD	28C/30C	CR	3,299	$131,960	$705,986	$0	ROLL
08/07	08/07	CSPREAD	29.5C/31.5C	CR	3,600	$21,600	$457,200	$0	ROLL
08/07	08/07	CSPREAD	29.5C/31C	CR	4,536	$72,576	$530,712	$0	ROLL
08/07	08/07	CSPREAD	29C/31C	CR	3,100	$18,600	$350,300	$0	ROLL
08/07	08/14	CSPREAD	31.5C/34C	CR	1	$208	$126	$0	ROLL
08/07	08/14	CSPREAD	31.5C/34C	CR	3,600	$687,600	$414,000	$0	ROLL
08/07	08/14	CSPREAD	31.5C/34C	CR	4,000	$660,000	$372,000	$0	ROLL
08/07	08/14	CSPREAD	31.5C/34C	CR	4,536	$834,624	$494,424	$0	ROLL
08/07	08/14	CSPREAD	31C/33.5C	CR	3,100	$545,600	$310,000	$0	ROLL
08/07	08/14	CSPREAD	31C/33.5C	CR	3,299	$603,717	$356,292	$0	ROLL
08/07	08/14	CSPREAD	31C/33.5C	CR	5,000	$965,000	$570,000	$0	ROLL
08/06	08/07	CSPREAD	28.5C/30.5C	CR	3,500	$259,000	$763,000	$0	ROLL
08/06	08/07	CSPREAD	28.5C/30C	CR	2,500	$162,500	$430,000	$0	ROLL
08/06	08/07	CSPREAD	28C/30C	CR	2,700	$175,500	$585,900	$0	ROLL
08/06	08/07	CSPREAD	28C/30C	CR	4,000	$300,000	$868,000	$0	ROLL
08/06	08/14	CSPREAD	31.5C/34C	CR	3,500	$714,000	$437,500	$0	ROLL
08/06	08/14	CSPREAD	31C/33.5C	CR	600	$114,000	$70,200	$0	ROLL
08/06	08/14	CSPREAD	31C/33.5C	CR	2,500	$475,000	$282,500	$0	ROLL
08/06	08/14	CSPREAD	31C/33.5C	CR	2,700	$510,300	$302,400	$0	ROLL
08/06	08/14	CSPREAD	31C/33.5C	CR	4,000	$772,000	$476,000	$0	ROLL
08/06	09/18	SYN	28.01C	B	600	$0	$300,000	$0	DB
08/06	09/18	SYN	28.01P	S	600	$165,000	$0	$0	CR
Total						$11,905,285	$12,014,540	$0	$-109,255

Holdings (Unrealized)

Expiry	DTE	Type	Side	Strike	Qty	ITM/OTM	ITM%	Notional	Potential Cash
09/18	36	C	B	$ 28	34,436	ITM	12.32%	$96,455,236	$0
09/18	36	P	S	$ 28	34,436	OTM	-12.32%	$96,455,236	$96,455,236
08/21	8	C	S	$ 39	8,000	OTM	-19.33%	$31,200,000	$0
08/21	8	C	B	$ 42	8,000	OTM	-25.10%	$33,600,000	$0
08/14	1	C	S	$ 31	20,299	ITM	1.48%	$62,926,900	$0
08/14	1	C	S	$ 31.50	14,137	OTM	-0.13%	$44,531,550	$0
08/14	1	C	B	$ 33.50	20,299	OTM	-6.09%	$68,001,650	$0
08/14	1	C	B	$ 34	14,137	OTM	-7.47%	$48,065,800	$0
Totals (Unrealized)								$481,236,372	$96,455,236

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