Stock fact sheet · data as of
YieldMax JP Option Income Strategy ETF (JPO): fair value, margin of safety and Wheel Score
Financial Services · Asset Management - Income · United States · Speculative / Distressed
Is JPO undervalued?
YieldMax JP Option Income Strategy ETF (JPO) closed at 13.45 on 16 Oct 2026. The GLS average fair value - the simple average of the 1 valuation models that produced a positive number - is 60.88, which puts the price 78% below it. 1 of the 1 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.
The average is built from just 1 models (DDM) - the rest returned nothing because an input they need (dividends, free cash flow, book value) is zero or negative - so treat it with more caution than usual.
The nightly engine files JPO under Speculative / Distressed - negative earnings or a Piotroski score of 3 or less - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for JPO
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 60.88 | +352% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -4.26 | -132% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
YieldMax JP Option Income Strategy ETF scores only 0 of 9 on the Piotroski F-score, which fails the Sunday Scan's "6 or more" rule. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. A GLS Moat score of 3.2/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC -211.1%, ROE 83.4%, ROA -39.6% - with debt at -1.40 times equity and negative free cash flow.
The dividend yield is high at 30.75% (payout ratio 0%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual.
Institutional ownership scores 5/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 0 / 9 | ROIC | -211.1% |
|---|---|---|---|
| GLS Moat | 3.2 / 10 | ROE | 83.4% |
| Debt / equity | -1.40 | ROA | -39.6% |
| Free-cash-flow yield | -11.8% | Payout ratio | 0% |
| Institutions | 5 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 45: Weak
With a Wheel Score of 45 YieldMax JP Option Income Strategy ETF sits in the Weak band, capped at 45 because the engine files it as Speculative / Distressed. The parts - Value 25/25, Health 0/20, Moat 5/15, Premium 20/20, Stability 6/20 - show where: Health (0/20) scores lowest.
Implied volatility is 37% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is thin - 18 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 15k shares a day on a market cap of $46M, with a beta of 0.73 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 6 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 78% margin of safety | |
| Health | 0 / 20 | Piotroski 0/9 | |
| Moat | 5 / 15 | moat 3.2/10 | |
| Premium | 20 / 20 | implied volatility 37% | |
| Stability | 6 / 20 | 15k shares/day, $46M cap, beta 0.73 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for JPO in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Asset Management - Income
The 12 companies below are the closest to YieldMax JP Option Income Strategy ETF by market cap within the Asset Management - Income industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| FMY First Trust Mortgage Income Fund | 11.33 | 22.31 | +49% | 39No options | $48M |
| SPIN State Street US Equity Premium Income ETF | 33.58 | 23.66 | -42% | 21No options | $48M |
| ICTVX ICON Utilities and Income Fund Investor | 10.59 | 13.16 | +20% | 39No options | $50M |
| JMM Nuveen Multi-Market Income Fund | 5.61 | 9.40 | +40% | 39No options | $53M |
| MXE Mexico Equity & Income Fund Inc. | 12.74 | 29.18 | +56% | 39No options | $56M |
| VLT Invesco High Income Trust II | 8.81 | 13.79 | +36% | 39No options | $57M |
| PGZ Principal Real Estate Income Fund | 8.73 | 18.83 | +54% | 39No options | $58M |
| GIJPX Guggenheim Municipal Income P | 11.02 | 5.94 | -86% | 19No options | $34M |
| NMS Nuveen Minnesota Quality Municipal Income Fund | 10.13 | 29.91 | +66% | 39No options | $65M |
| CEV Eaton Vance California Municipal Income Trust | 10.30 | 17.40 | +41% | 39No options | $72M |
| IAE Voya Asia Pacific High Dividend Equity Income Fund | 7.01 | 65.30 | +89% | 35No options | $75M |
| RFM RiverNorth Flexible Municipal Income Fund, Inc. | 12.82 | 24.06 | +47% | 31No options | $78M |
⚖ Compare JPO with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about JPO
Is JPO undervalued right now?
By the GLS models, yes: at 13.45 the stock is 78% below the average fair value of 60.88 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of JPO and what does it mean?
JPO scores 45 out of 100 (Weak). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for JPO?
60.88 per share as of 16 Oct 2026 - the simple average of the 1 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does YieldMax JP Option Income Strategy ETF report earnings next?
No upcoming earnings date is recorded for JPO in our calendar as of 16 Oct 2026; the Calendars page is refreshed every morning.
Does JPO have listed options, and how liquid are they?
Yes. The nightly snapshot found 190 listed contracts with 18 open interest across all expiries and implied volatility of 37% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.