SPYI Stock Summary and Trading Ideas (Neos S&P 500 High Income ETF | BATS:SPYI)

The Fund seeks to distribute high monthly income generated from investing in the constituents of the S&P 500 Index and implementing a data-driven call option strategy. Actively managed by NEOS, the Fund seeks to take advantage of tax loss harvesting opportunities in addition to utilizing SPX Index options classified as section 1256 contracts, which are subject to lower 60/40 tax rates. The Fund utilizes a call option strategy that may include both sold and purchased SPX index options, which may provide the opportunity for upside capture in rising equity markets

Neos S&P 500 High Income ETF trades on the BATS stock market under the symbol SPYI.

As of October 31, 2024, SPYI stock price declined to $50.59 with 635,117 million shares trading.

SPYI has a beta of 0.77, meaning it tends to be less sensitive to market movements. SPYI has a correlation of 0.95 to the broad based SPY ETF.

SPYI has a market cap of $2.12 billion. This is considered a Mid Cap stock.

SPYI has underperformed the market in the last year with a return of +24.2%, while SPY returned +38.5%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in SPYI shares. However, SPYI has outperformed the market in the last 3 month and 2 week periods, returning +5.3% and -1.4%, while SPY returned +5.2% and -2.3%, respectively. This indicates SPYI has been having a stronger performance recently.

SPYI support price is $51.08 and resistance is $51.52 (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 SPYI shares will trade within this expected range on the day.