QYLD Stock Summary and Trading Ideas (Global X Nasdaq 100 Covered Call ETF | NASDAQ:QYLD)

The Global X Nasdaq 100 Covered Call ETF (QYLD) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the CBOE Nasdaq-100 BuyWrite V2 Index. The Global X Nasdaq 100 Covered Call ETF (QYLD) follows a covered call or buy-write strategy, in which the Fund buys the stocks in the Nasdaq 100 Index and writes or sells corresponding call options on the same index. QYLD uses this strategy with the aim of enhancing the portfolio s risk-adjusted returns, reducing volatility, and generating monthly income from the premiums received by writing call options.

Global X Nasdaq 100 Covered Call ETF trades on the NASDAQ stock market under the symbol QYLD.

As of April 17, 2024, QYLD stock price declined to $17.70 with 9,497,356 million shares trading.

QYLD has a beta of 0.54, meaning it tends to be less sensitive to market movements. QYLD has a correlation of 0.65 to the broad based SPY ETF.

QYLD has a market cap of $8.07 billion. This is considered a Mid Cap stock.

In the last 3 years, QYLD stock traded as high as $23.15 and as low as $15.00.

QYLD has underperformed the market in the last year with a return of +14.3%, while the SPY ETF gained +22.5%. In the last 3 month period, QYLD fell short of the market, returning +4.3%, while SPY returned +6.3%. However, in the most recent 2 weeks QYLD has outperformed the stock market by returning -1.2%, while SPY returned -3.6%.

QYLD support price is $17.74 and resistance is $17.92 (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 QYLD stock will trade within this expected range on the day.