YieldMax SPCX Option Income Strategy ETF (YSPC) Is The First ETF Built to Generate Income From SpaceX Stock Options

YieldMax launched YSPC, the first ETF designed to generate income from options on SpaceX-linked SPCX exposure. The fund uses a synthetic covered-call strategy, meaning it seeks current income from call premiums while limiting upside participation and leaving downside risk largely intact. The ETF charges a 1.01% expense ratio and has not yet paid a distribution, so its actual yield remains unproven. The article warns that the structure can be especially risky during declines: SPCX has fallen 33.22% over the past month, and YSPC itself dropped 7.61% in its first five trading days. Because SpaceX pays no dividend, all income must come from options premiums, which can be offset by NAV erosion if the stock weakens. The piece frames YSPC as a novel but high-risk income product for investors seeking exposure to SpaceX volatility.