##  [# Covered-Call Income With Daily Options: Inside ProShares ISPY, IQQQ, ITWO](/sections/features/daily-covered-call-etfs-proshares-ispy-iqqq-itwo) 

 

# Covered-Call Income With Daily Options: Inside ProShares ISPY, IQQQ, ITWO

 

 

Simeon Hyman breaks down ProShares’ daily covered-call ETFs, volatility-adjusted strikes, index tracking, distributions, and potential return-of-capital tax treatment.



 

 

 

 

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[By ETF.com Staff](/contributors/etfcom-staff)

 Oct 08, 2025

 Edited by: ETF.com Staff

 

 

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At the Future Proof conference, ProShares’ Global Investment Strategist Simeon Hyman joined ETF.com’s Dave Nadig to unpack a new twist on covered-call investing. ProShares’ ETFs —[ **ISPY**](/ISPY), [**IQQQ**](/IQQQ), and [**ITWO**](/ITWO) — use a daily call-writing strategy rather than the traditional monthly approach.

“In a monthly strategy, if the index goes up early, you’re done for 27 days,” Hyman explained. “Ours resets daily, so you’re always back in the game.”

The funds also feature **volatility-adjusted strikes**, writing further out-of-the-money when volatility spikes to help maintain equity participation. The result, Hyman said, is “the income people want from covered-call strategies — and the equity returns at the same time.”

Index-based and rules-driven, the suite even offers potential **return-of-capital** tax benefits, adding another layer of investor appeal.

[**Read the full conversation →**](https://www.etf.com/sections/conferences/simeon-hyman-future-proof-daily-call-writing-etfs)



 

 

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