Calgary, August 14, 2025 – YieldMax’s MSTR Option Income Strategy ETF (MSTY) saw notable trading activity on August 13, 2025 in preparation for the weekend, making multiple trades to close out short call positions in Strategy (MSTR) and eliminate risks of getting assigned. All positions have been closed far out-of-the-money (“OTM”) and signifies that most trades have been overall net-positive.
Table of Contents
MSTY Option Trades – August 13, 2025
Bought-to-close (“BC”) Options
| Ticker/Options Chain | Call/Put | Expiry Date | Strike Price | Quantity | Execute Price | Premium Earnings/(Cost) |
|---|---|---|---|---|---|---|
| MSTR | Call | 25/08/15 | 422.50 | 5000 | 0.92 | (460000) |
| MSTR | Call | 25/08/15 | 422.50 | 5500 | 0.43 | (236500) |
| MSTR | Call | 25/08/15 | 422.50 | 1413 | 0.43 | (60759) |
| MSTR | Call | 25/08/15 | 422.50 | 171 | 0.47 | (8037) |
| MSTR | Call | 25/08/15 | 420.00 | 5000 | 0.53 | (265000) |
| MSTR | Call | 25/08/15 | 420.00 | 9850 | 0.57 | (561450) |
| MSTR | Call | 25/08/15 | 420.00 | 1056 | 0.74 | (78144) |
| MSTR | Call | 25/08/15 | 420.00 | 6223 | 0.53 | (329819) |
| MSTR | Call | 25/08/15 | 420.00 | 37 | 0.57 | (2109) |
| MSTR | Call | 25/08/15 | 420.00 | 2911 | 0.62 | (180482) |
| 2MSTR | Put | 25/09/19 | 38.50 | 1000 | 23.35 | (2335000) |
Note: 2MSTR is a Cboe Mini-MicroStrategy Index option that trades at 1/10th of MSTR’s value.
Sold-to-close (“S”) Options
| Ticker/Options Chain | Call/Put | Expiry Date | Strike Price | Quantity | Execute Price | Premium Earnings/(Cost) |
|---|---|---|---|---|---|---|
| MSTR | Call | 25/08/15 | 455.00 | 5000 | 0.07 | 35000 |
| MSTR | Call | 25/08/15 | 455.00 | 9850 | 0.11 | 108350 |
| MSTR | Call | 25/08/15 | 442.50 | 1000 | 0.12 | 12000 |
| MSTR | Call | 25/09/19 | 385.00 | 1000 | 28.35 | 2835000 |
New Short Positions (“SS”)
| Ticker/Options Chain | Call/Put | Expiry Date | Strike Price | Quantity | Execute Price | Premium Earnings/(Cost) |
|---|---|---|---|---|---|---|
| MSTR | Call | 25/08/15 | 400.00 | 2500 | 3.16 | 790000 |
New Long Positions (“B”)
MSTY did not initiate any new long positions in MSTR on August 13, 2025.
MSTY Options Trade Analysis
With most of MSTY’s call option positions set to expire this Friday, August 15, 2025, YieldMax has closed out many of their positions to almost completely eliminate the risk of getting assigned. Given that MSTR closed at a price of $389.90 on August 13, many of their option positions closed around 8% OTM and allowed MSTY to comfortably buy back positions without spending excessively.
Excluding their synthetic MSTR position (the options set to expire in September), MSTY spent approximately $2.18M to buy back various positions and offset these costs by approximately $155K from selling their protective long call positions.
In other words, MSTY spent about $2.03M to close out positions on August 13, 2025, which compared to the fund’s current $5.58B in assets under management (“AUM”), represents a nearly negligible cost of 0.036% of AUM.
And though MSTY traded mostly to close various positions, the fund did sell another call option with a strike price of $400, set to expire this Friday. MSTR closed on Thursday with a price of $372.94, which means MSTY’s new call position is over 7% OTM.
MSTY sold 2500 of these contracts at a 3.16 execution price and added an additional $790K for potential future distribution.
Related Analysis On MSTY ETF
- “MSTY: Fails From A Structural Standpoint, Works From An Investor Psychology Perspective” – Binary Tree Analytics | August 11, 2025
- “MSTY: A High-Risk, High-Reward Bet On Bitcoin” – The Asian Investor | July 28, 2025
- “MSTY: 100%+ Yield? Don’t Fall For The Hype” – Jonathan Weber | July 16, 2025
MSTY Performance Snapshot
- Last Close Price: $18.22
- Annualized Yield (TTM): 151.37%
- Last Dividend: $1.1835 on August 1, 2025
- AUM: $5.58 billion
*At the time of writing: August 12, 2025. Source: Seeking Alpha
MSTY Options Data Source
Options activity data sourced from the YieldMax ETFs intraday CSV file as of August 13, 2025, 9 PM EST. We download data directly from the YieldMax MSTY website page.
Financial and Affiliate Disclosures
This article is for informational purposes only and does not constitute financial, investment, or trading advice. Options and securities trading carry a high risk of loss and are not suitable for all investors.
At the time of publication, the author does not hold positions in any of the securities mentioned.
Market data and yields are subject to change without notice. Some links on this site may be affiliate links, meaning we may earn a commission if you purchase through them, at no extra cost to you.
Author: Kevin Shan
Publisher: Guru Audit
Location: Calgary, Alberta, Canada