Credit Suisse X-Links Crude Oil Shares Covered Call ETN

Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) is an exchange-traded note (ETN) that aims to provide investors with exposure to the performance of the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index, minus applicable fees. This index is designed to reflect a covered call strategy on the United States Oil Fund (USO), which tracks the price of West Texas Intermediate (WTI) crude oil. USOI seeks to generate income by selling call options on USO, while also offering some participation in the upward movement of crude oil prices. The ETN's strategy involves holding USO shares and notionally selling call options on those shares to generate income. These call options are typically approximately 6% out-of-the-money, meaning their strike price is 106% of the USO share price. The notional net premiums received from selling these calls are distributed monthly. This approach aims to provide income and potentially lower volatility compared to direct futures investments, but it also caps upside potential during strong oil price rallies. USOI is listed on the NASDAQ Stock Market. While Credit Suisse AG was the initial issuer, prior to May 31, 2024, the issuer and counterparty credit risk of this ETN was Credit Suisse AG, and currently, USOI shares are issued by UBS Group AG under the brand ETRACS. Sources: [1] https://www.sumgrowth.com/etf-profile/invest-in-USOI-etf.html [2] https://portfolioslab.com/symbol/USOI [3] https://www.prnewswire.com/news-releases/credit-suisse-announces-the-launch-of-a-uso-covered-call-exchange-traded-note-the-credit-suisse-x-links--crude-oil-shares-covered-call-etns-300445995.html [4] https://www.etf.com/USOI [5] https://www.kavout.com/etfs/usoi/ubs-etracs-crude-oil-shares-covered-call-etn/news [6] https://www.composer.trade/etf/USOI [7] https://www.tradingview.com/symbols/NASDAQ-USOI/profile/