IMST: Not Even A New Wrapper For The Same MSTY Option Income Problem
Main Idea
The article discusses the pitfalls of MSTY as an income plan and mentions Bitwise's introduction of YieldMax-like option strategy products, including one similar to MSTY but focused on MSTR.
Key Points
1. The author previously wrote about the pitfalls of MSTY as an income plan.
2. Bitwise has recently introduced YieldMax-like option strategy products.
3. One of Bitwise's new products is a strategy similar to MSTY but applied to MSTR.
Description
Summary MSTY and IMST both suffer from using highly volatile MSTR as the underlying, making option income strategies structurally weak for long-term investors. IMST does not offer meaningful improvements over MSTY in methodology, yield management, or risk mitigation based on current disclosures and early performance. Aggressive yields in both funds are misleading, as total returns are mostly driven by MSTR's price action rather than sustainable option income. I maintain a Sell on MSTY and keep I...
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