Stock fact sheet · data as of
YieldMax JP Option Income Strategy ETF (JPO): fair value, margin of safety and Wheel Score
Ticker symbol JPO · Financial Services · Asset Management - Income · United States · Fund / Note
Is JPO undervalued?
YieldMax JP Option Income Strategy ETF (JPO) closed at 13.93 on 5 Nov 2026. The GLS average fair value - the simple average of the 1 valuation models that produced a positive number - is 59.14, which puts the price 76% 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.
JPO looks like a fund, note or preferred share rather than an operating company, so the nightly engine files it under Fund / Note: the valuation models are not built for it, and its Wheel Score is capped at 45.
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 | 59.14 | +325% | 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 | -131% | 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
No Piotroski health score is on file for JPO (the statements it needs were not available), so the Health part of the Wheel Score counts it at half marks - 10 of 20 - rather than marking the stock down for missing data. There is no GLS Moat score for JPO: funds, notes and second share lines get none, and so does a company with fewer than two years of accounts on file. The Moat part of the Wheel Score is zero.
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 28.86% (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 | - / 9 | ROIC | -211.1% |
|---|---|---|---|
| GLS Moat | - / 10 | ROE | 83.4% |
| Debt / equity | -1.40 | ROA | -39.6% |
| Free-cash-flow yield | -11.4% | Payout ratio | 0% |
| Institutions | 5 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 42: Weak
With a Wheel Score of 42 YieldMax JP Option Income Strategy ETF sits in the Weak band. It fails filter 1, options that actually trade - options too quiet (9 open interest, 3 a day); and filter 2, a real business, not a gamble - a fund or note, not a company; and filter 8, big enough - market cap $48M (under $1.0B); Moat (weak) is its weakest part.
Implied volatility is 41% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is thin - 9 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 21k shares a day on a market cap of $48M, with a beta of 0.71 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (9 open interest, 3 a day) |
| 2 | A real business, not a gamble | Fails | a fund or note, not a company |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Fails | market cap $48M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 76% below fair value | |
| Premium | Strong | implied volatility 41% | |
| Moat | Weak | no moat score | |
| Health | Fair | no Piotroski score on file - half marks | |
| Red Flags | Strong | Red Flags score 95/100 | |
| Option trading | Weak | 3 contracts a day, 9 open interest | |
| Stability | Fair | beta 0.71, $48M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it 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 | 11.18 | 22.43 | +50% | 25No options | $47M |
| SPIN State Street US Equity Premium Income ETF | 33.38 | 24.15 | -38% | 13No options | $46M |
| ICTVX ICON Utilities and Income Fund Investor | 11.19 | 13.16 | +15% | 18No options | $53M |
| JMM Nuveen Multi-Market Income Fund | 5.67 | 9.47 | +40% | 28No options | $54M |
| MXE Mexico Equity & Income Fund Inc. | 13.15 | 29.17 | +55% | 24No options | $58M |
| VLT Invesco High Income Trust II | 9.08 | 13.80 | +34% | 31No options | $59M |
| PGZ Principal Real Estate Income Fund | 9.02 | 18.81 | +52% | 28No options | $60M |
| GIJPX Guggenheim Municipal Income P | 11.24 | 5.98 | -88% | 11No options | $34M |
| NMS Nuveen Minnesota Quality Municipal Income Fund | 10.55 | 29.91 | +65% | 26No options | $68M |
| CEV Eaton Vance California Municipal Income Trust | 10.61 | 17.39 | +39% | 26No options | $75M |
| GCV The Gabelli Convertible and Income Securities Fund Inc. | 3.95 | 24.35 | +84% | 26No options | $80M |
| DTF DTF Tax-Free Income 2028 Term Fund Inc. | 11.42 | 11.56 | +1% | 10No options | $80M |
⚖ 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 13.93 the stock is 76% below the average fair value of 59.14 (data as of 5 Nov 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 42 out of 100 (Weak) - it fails Wheel Trade Filters 1, 2, 8. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for JPO?
59.14 per share as of 5 Nov 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 5 Nov 2026; the Calendars page is refreshed every morning.
Does JPO have listed options, and how liquid are they?
Yes. The nightly snapshot found 60 listed contracts with 9 open interest across all expiries and implied volatility of 41% 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.