covered calls

Goldman Sachs

2026-08-21 07:50:39

Goldman Sachs Bets on Crypto Volatility Income With Up to $2.25 Billion NEOS Deal

Goldman Sachs has agreed to acquire NEOS Investments for up to $2.25 billion in cash and stock, adding a firm that manages 19 options-based income ETFs with roughly $30 billion in assets. At the center of the story is BTCI, a NEOS fund that holds spot Bitcoin ETF exposure and sells covered calls against those positions. The fund has $1.11 billion in assets, charges a 0.98% fee, and currently distributes $7.75 per share each month, equal to a 27% annualized yield, according to the source text. The trade-off is direct: investors collect option premium up front, but still absorb sharp downside in Bitcoin and give up some of the upside in strong rallies. The article argues that this model is part of a broader Wall Street push to separate crypto cash flow from crypto price risk. It points to staking-enabled Ethereum products, crypto-backed lending, and Bitcoin-linked structured notes from major firms including Fidelity, BlackRock, Morgan Stanley, and JPMorgan. The larger claim is not that traditional finance has turned bullish on crypto as an asset class, but that large institutions have found ways to monetize volatility, fees, and market activity even without relying on a sustained rise in token prices.

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BlackRock

2026-07-23 05:30:14

BlackRock Updates Bitcoin Income ETF Filing With $9.99M in Assets and Covered Call Plan

BlackRock’s amended filing for the iShares Bitcoin Premium Income ETF disclosed $9.99 million in net assets, a 0.65% sponsor fee, and a covered-call strategy tied to IBIT and related Bitcoin ETF indexes.

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BlackRock

2026-07-22 13:45:13

BlackRock Files for Bitcoin Income ETF Built Around IBIT Options

BlackRock has filed for the iShares Bitcoin Premium Income ETF, a product designed to generate monthly income by writing covered calls on IBIT shares. The fund still requires SEC approval before launch.

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GameStop

2026-07-09 22:26:13

GameStop Used 4,709 BTC as Collateral for Covered Calls, SEC Filing Reveals

GameStop’s fiscal 2025 annual report shows it pledged 4,709 of 4,710 BTC to Coinbase Credit for an OTC covered-call strategy, clarifying the transfer was not a sale but led to derecognition under U.S. GAAP.

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GameStop

2026-07-08 15:42:14

GameStop Pledged 4,709 BTC for Covered Calls, SEC Filing Reveals

GameStop disclosed in its fiscal 2025 annual report that it pledged 4,709 of its 4,710 BTC to Coinbase Credit for an OTC covered call strategy, indicating it retained economic exposure rather than outright selling the holdings.

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GameStop

2026-07-08 15:42:14

GameStop Discloses SEC Filing: 4,709 BTC Pledged for Covered Call Strategy

GameStop said in its FY2025 annual filing that it pledged 4,709 of its 4,710 bitcoin to Coinbase Credit for an OTC covered call strategy, signaling it kept exposure rather than selling outright.

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GameStop

2026-07-08 15:40:13

GameStop Pledged 99.98% of Bitcoin Holdings for Covered Calls, SEC Filing Reveals $131.6M Loss

GameStop's annual report reveals it pledged 4,709 BTC (99.98% of holdings) to Coinbase Credit for a covered call strategy, not a sale. The move resulted in a $131.6 million loss for fiscal 2025, with bitcoin trading well below strike prices.

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Nakamoto

2026-07-02 12:45:14

Nakamoto (NAKA) Launches Actively Managed Bitcoin Derivatives Program to Capture Volatility Income and Hedge Downside Risk

Nakamoto Inc. has launched an actively managed Bitcoin derivatives program designed to generate income from market volatility while mitigating downside risk. Operating since Q1 2026, the program uses a portion of Nakamoto's Bitcoin holdings as collateral, managed by Bitwise Asset Management through a separately managed account and custodied by Kraken Institutional. It consists of an income sleeve (selling covered calls and call spreads) and a hedging sleeve (buying protective puts and put spreads). Premiums collected can be received in Bitcoin or USD and may be used to fund hedging costs, purchase additional Bitcoin, or for general corporate needs. CIO Tyler Evans highlighted Bitcoin's implied volatility as a consistent opportunity source. The strategy aims to complement Nakamoto's long-term accumulation goal by generating yield from its treasury while enhancing balance sheet stability. Performance details from Q1 2026 will be disclosed in the upcoming Form 10-Q filing.

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