Why I Like It for Covered Calls or Wheel Strategy: It's an ETF, not a single stock. The trend is bullish, but not parabolic. Options are liquid. Volatility is elevated enough to produce worthwhile premiums. Price is sitting right below resistance (If shares are called away, you're exiting near a level where sellers have historically shown up). Why I Prefer the $71 strike at $1.22 (mid price). The strike sits almost exactly at recent resistance. That's where I like covered calls: Sell calls where I think the market may struggle, collect income while waiting, and if I get called away, I sell at a price I was happy with anyway. If assigned, the return is annualized at 93.8% (for comparison purposes).
