PYPY - YieldMax PYPL Option Income Strategy ETF
PYPY aims to generate monthly income while providing exposure to the price returns of Paypal stock (PYPL), 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) US Treasurys for collateral. The synthetic long exposure seeks to replicate the price movements of PYPL by purchasing and selling at-the-money calls and puts that have one- to six-month terms.
As of Jun 30, 2026: spot at $25.04, ATM IV 29.1%, max pain $47.00, net GEX -$84.
- Sector
- Financial Services
- Industry
- Asset Management
- Market Cap
- $21.2M
- Beta
- 0.70
- 52-Week Range
- 24.15-65.3
- Dividend Yield
- $16.85
- IPO Date
- Sep 26, 2023
- Exchange
- AMEX
What PYPY Looks Like to Options Traders Today
IV rank of 3.8% is subdued relative to the 1-year history, conditions that typically favor premium-buying or long-volatility structures (debit spreads, calendar spreads, long straddles); negative net gamma exposure (-$84) means dealers hedge with trend, amplifying realized volatility and accelerating directional moves; the 25-delta skew (0.437) prices calls richer than puts, often reflecting upside speculation or squeeze risk.
What This Page Covers
The PYPY overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks. Microstructure data is available on short interest, short volume, fail-to-deliver, and market structure.
Frequently asked PYPY overview questions
- What is PYPY?
- PYPY is the ticker symbol for YieldMax PYPL Option Income Strategy ETF, an listed exchange-traded fund. PYPY aims to generate monthly income while providing exposure to the price returns of Paypal stock (PYPL), 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) US Treasurys for collateral. Listed on AMEX. PYPY is the ETF ticker shown on this page; ETF traders use the fund for diversified exposure to its underlying basket, for sector and factor rotation, and for hedging or replication strategies via the listed options chain.
- What does the PYPY options snapshot look like today?
- As of Jun 30, 2026, the PYPY options snapshot shows spot at $25.04, ATM IV 29.1%, IV rank 3.8%, max pain $47.00, net GEX -$84, expected move 8.34%. The full options chain, Greeks by strike and expiration, per-strike open-interest distribution, dealer gamma and delta exposure, and the volatility skew surface are linked from this overview page. Each per-metric route refreshes once per trading session and reflects the most recent close-of-business listed-options state.
- What are PYPY's key statistics?
- YieldMax PYPL Option Income Strategy ETF (PYPY) carries a market capitalization of $21.2M, 52-week range of 24.15-65.3. Full holdings disclosure, expense ratio, and tracking-error history live on the per-ticker fundamentals page or the sponsor's site; daily NAV and premium/discount-to-NAV are accessible from the same view. These structural inputs frame how the ETF options market prices implied volatility relative to its constituents.
- What sector or industry does PYPY belong to?
- YieldMax PYPL Option Income Strategy ETF operates in the Financial Services sector, in the Asset Management industry. Sector classification affects how the ticker correlates with sector ETFs, how it reacts to macro factors like rate moves and commodity prices, and how its options pricing compares to sector peers. Compare PYPY's implied volatility and skew against sector benchmarks to gauge whether the options market is pricing single-name or systemic risk relative to the broader peer group.
- How current is the PYPY data on this page?
- The options snapshot above is dated Jun 30, 2026 and refreshes once per session, with all per-strike Greeks and exposure aggregates recomputed at the daily close. Fund-level fields (sponsor, expense ratio, holdings concentration where available) refresh from the vendor feed nightly. ETF-specific filings (N-CSR, N-PX, N-CEN) update on the SEC EDGAR cadence. FINRA microstructure data refreshes on the source's cadence; for ETFs the off-exchange volume signal is dominated by authorized-participant creation and redemption rather than directional flow.