Bottom line: CONY seeks high weekly income by writing calls against synthetic exposure to Coinbase (COIN). Crypto and single-stock volatility can generate substantial option premiums, attracting income investors who want COIN-linked cash flow.
It is not a pure Coinbase investment or a low-risk yield product. Upside is heavily capped, downside remains largely unprotected, and significant NAV erosion is common when distributions include large return-of-capital components or when COIN declines sharply. Concentration and crypto-correlated risks are extreme.
Position size should reflect the very high volatility and structural trade-offs of this single-stock options strategy. Review the latest prospectus, distribution composition, and both COIN and crypto-market conditions carefully. This is not investment advice.
Distribution History for CONY
| Month | Distributions | No. of shares | Net Distribution / share |
|---|---|---|---|
| October 2024 | $66.59 | 60 | $1.1098 |
| September 2024 | $171.09 | 164 | $1.0432 |
| August 2024 | $165.00 | 164 | $1.0061 |
| July 2024 | $258.01 | 164 | $1.5732 |
| June 2024 | $278.51 | 164 | $1.6982 |
| May 2024 | $374.04 | 164 | $2.2807 |
| April 2024 | $349.30 | 125 | $2.7944 |
| March 2024 | $207.74 | 125 | $1.6619 |
| February 2024 | $84.61 | 85 | $0.9954 |
| January 2024 | $138.69 | 53 | $2.6168 |
| December 2023 | $76.31 | 31 | $2.4616 |
| November 2023 | $18.32 | 17 | $1.0776 |
| Grand Total: | $6,020.40 | 9,522 | $0.6323 |
ETF Investment Summary
| Investment | Shares | Distributions | Purchase price / share | Real price / share | Market price / share |
|---|---|---|---|---|---|
| $3,285.25 | 116 | $6,044.08 | $17.27 | $28.32 | $16.90 |
Notes:
• Investment = Current Adjusted Cost Basis (after accounting for sells and distributions)
• Purchase price / share = Historical average price of all shares ever bought
• Real price / share = Current adjusted cost basis per remaining share (after distributions reduce basis)
• Market price / share = Latest market price of the ETF
Personal Chart – Real Price vs Real Price + Cumulative Distributions
Blue line = Real Price per share (cost basis after buys, sells & distributions)
Red line = Real Price + Cumulative Net Distributions received so far
Purple line = Cumulative Realised Capital Gains from sales
Green bars = Number of shares held at month-end
When the green bars drop to zero, the blue/red lines also go to zero (full exit of the position).