YieldMax SMCI Option Income Strategy ETF is an actively managed exchange-traded fund focused on generating current income through a synthetic covered call strategy linked to Super Micro Computer Inc. stock. Its primary objective is to provide weekly distributions from option premiums obtained by selling call options or call spreads on SMCI, while offering indirect exposure to the company's share price appreciation, subject to a cap on potential gains due to the options approach. The fund does not hold SMCI stock directly; instead, it employs standardized exchange-traded and FLEX options to create synthetic long exposure via at-the-money calls and puts, combined with short call positions typically expiring in one month or less at strike prices 0% to 15% above the share price. Collateralized by cash and U.S. Treasurys, this non-diversified strategy targets investors seeking income in the information technology sector, particularly those interested in derivative income from volatile equities like SMCI. Launched in 2024 under the YieldMax brand and issued by Tidal Trust II, the ETF operates in the actively managed options-based ETF market segment.