The YieldMax Ultra Option Income Strategy ETF (ULTY) has a yield around 85%, but its share price has dropped significantly. The use of a covered call strategy contributes to inherent volatility. Traders may find it prudent to utilize limit orders given the market dynamics, while long-term investors should avoid trying to time short-term market movements. Lowering limit orders could be a strategic move in light of ULTY's recent pricing trends, especially considering the current trading price hovering around $6.
The ULTY has a sky-high yield currently hovering around 85%. With shares dipping from $20 per share to $6 and change, volatility is a guarantee.
A high level of volatility and downside momentum could make limit orders a smart way to add to one's position. Timing the markets is not a game for prudent long-term income investors.
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