Kurv Yield Premium Strategy Tesla ETF (TSLP)
Kurv Yield Premium Strategy Tesla ETF operates in the Asset Management industry of the Financial Services sector, headquartered in San Francisco, CA, US. The stock last traded at $13.81, down 0.95% on the session, giving a market capitalisation of $14.5M. Its beta of 1.36 implies it has historically moved more than the broad market.
TSLP aims to generate monthly income while providing exposure to the price returns of Tesla stock (TSLA), subject to a cap on potential gains. The fund utilizes a synthetic covered call strategy via standardized exchange-traded and FLEX options, which consists of three elements: i) synthetic long exposure, ii) covered call writing, and iii) short-term fixed income instruments. The synthetic long exposure seeks to replicate the price movements of TSLA by purchasing and selling at-the-money calls and puts with one-month to one-year terms. To generate income, the fund writes out-of-the-money call options with similar expirations and a strike price approximately 5%-15% above TSLA's share price. This limits participation in potential gains if TSLA shares increase in value. The short put positions fully expose investors to the downside of the stock. The fund may also invest directly in TSLA shares and the combined direct and synthetic long position will not exceed 100% of net assets.
Kurv Yield Premium Strategy Tesla ETF is most often compared with the following Financial Services names: