UBS AG ETRACS Crude Oil Shares Covered Call ETNs due April 24, 2037 (USOI) NASDAQ
55.45
+0.99(+1.82%)
Currency In USD
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55.45
+0.99(+1.82%)
Currency In USD
Address
1285 Avenue of the Americas
New York, NY 10019
United States of America (the)
Phone
800-320-1225
Sector
Financial Services
Industry
Asset Management - Leveraged
Employees
N/A
First IPO Date
April 26, 2017
USOI adds a twist to the crude oil segment by extracting income from oil futures exposure. The ETN provides the return of USCF`s popular front-month oil ETF, USO, coupled with a notional short position in USO calls expiring the next month with strike prices 6% out of the money. The strategy adds yield and lowers volatility compared to owning USO outright, but at the cost of upside participation. Therefore, USOI is likely to perform very differently from crude oil futures. USOI aims to distribute yield monthly, typical of an ETN.