QQQY Stock Summary and Trading Ideas (Defiance Nasdaq 100 Enhanced Options Income ETF | NASDAQ:QQQY)

QQQY, the first put-write ETF using daily options (0DTE) to seek enhanced income for investors. QQQY aims to achieve consistent and outsized monthly yield distributions for investors coupled with equity market exposure to the Nasdaq-100. QQQY is an actively managed exchange-traded fund ("ETF") that seeks enhanced income, constructed of treasuries and Nasdaq-100 index options. The strategy's objective is to generate outsized monthly distributions by selling option premium on a daily basis. The fund uses daily options to realize rapid time decay by selling in the money puts with ODTE. The Fund's primary investment objective is to seek current income. The Fund's secondary investment objective is to seek exposure to the performance of the Nasdaq 100 Index (the "Index") subject to a limit on potential investment gains.

Defiance Nasdaq 100 Enhanced Options Income ETF trades on the NASDAQ stock market under the symbol QQQY.

As of September 26, 2024, QQQY stock price climbed to $36.73 with 162,998 million shares trading.

QQQY has a beta of 0.89, meaning it tends to be less sensitive to market movements. QQQY has a correlation of 0.83 to the broad based SPY ETF.

QQQY has a market cap of $202.32 million. This is considered a Small Cap stock.

QQQY has underperformed the market in the last year with a return of +15.7%, while the SPY ETF gained +34.0%. In the last 3 month period, QQQY fell short of the market, returning -0.1%, while SPY returned +5.4%. However, in the most recent 2 weeks QQQY has outperformed the stock market by returning +3.8%, while SPY returned +3.5%.

QQQY support price is $36.24 and resistance is $36.84 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that QQQY shares will trade within this expected range on the day.