One of the most active ETFs in terms of options trading is the iShares iBoxx $ High Yield Corporate Bond ETF (HYG). The most popular high yield bond ETF, HYG trades over 400,000 options contracts per day on average. A trader recently placed 7,000 of what appear to be HYG covered calls. The position could be part of a larger income strategy to collect multiple dividends plus additional premiums from selling calls.
