REX Financial launches covered call Nvidia ETF hours before earnings release
(Reuters) -REX Financial launched a single-stock exchange-traded fund tied to Nvidia, the powerhouse chipmaker that has dominated stock market returns over the last two years, on Wednesday morning, hours ahead of the release of Nvidia's earnings. The new fund, the REX NVDA Growth & Income ETF is a form of covered call ETF that uses option strategies to generate income while at the same time giving investors exposure to a portion of the upside in Nvidia's stock price, REX said. "We think it will allow people to have their cake and eat it, too," said Scott Acheychek, REX's chief operating officer.