HIYY led income-source signals — 2026-04-24

Last week’s watchlist carried one open question: whether
QDTY‘s first observation at net per share 5.305 would hold up or change shape in the following window. This week QDTY reappears — but not in first position. It ranks second at 2.264, with POUT still at zero. The number dropped sharply from last week. The structure did not change.

The lead this week is HIYY, which ranks first at net per share 2.480 under full five-intraday-file coverage. Unlike QDTY, HIYY shows both PIN and POUT — $11.7M in and $8.1M out — making it a structurally different read from the zero-POUT entries sitting just below it in the table. Two tickers at the top of the same ranking, but telling different stories.
MRNY is worth flagging separately: net per share 1.029 under four intraday files, but trading at a
−3.86% discount to NAV — the widest gap in this week’s ranked set. The income-source figure and the pricing context are not the same signal.

This week’s income-source pulse

Window: 2026-04-20 → 2026-04-24 (US Mon–Fri), frozen snapshot for week ending 2026-04-24. This ranking covers the tracked weekly set; Group-3 and Target-12 are shown separately below. Two structural notes apply this week: QDTY and SDTY both show POUT=0, meaning their figures reflect gross premium collected rather than net after rolling costs — direct comparison with spread-based entries is limited. MRNY carries the widest discount in the ranked set at −3.86%; treat that as pricing context, not an income-source signal.

Anchor read: HIYY — full coverage, PIN/POUT both visible

HIYY ranks first at net per share
2.480, net $3.60M, PIN $11.71M, POUT $8.11M. Coverage: 5 intraday files, 14 holdings rows. DQ level: ok. Premium +7.35%.

Both legs of the trade are visible here. PIN at $11.7M and POUT at $8.1M produce a net that reflects actual rolling costs subtracted — not a gross figure held up by the absence of POUT. That structural difference matters when reading it alongside QDTY or SDTY in the same table. The premium at +7.35% is the highest in this week’s ranked set; that gap between market price and NAV is logged as pricing context. HIYY appeared in the tracked top 10 in a prior week at net per share 0.585 — this week’s 2.480 is a significant step up, now from the lead position. One week at the top under full coverage is enough to log. It is not enough to read as a pattern.

QDTY — second observation, same structure

QDTY ranks second at net per share
2.264, net $1.42M, PIN $1.42M, POUT $0. Coverage: 5 intraday files, 2 holdings rows. DQ level: ok. Premium +1.47%.

Last week’s figure was 5.305. This week it is 2.264 — a drop of more than half, under the same full intraday coverage. POUT remains zero. That combination is worth reading carefully: the number moved significantly while the structure stayed identical. Whether that compression reflects a quieter premium environment or something else in the strategy is not answerable from the data alone. What the data does show is that the zero-POUT structure has now appeared in two consecutive windows — which shifts this from a first observation to a second observation, still with the same structural caveat. Cross-ticker comparability with spread-based funds remains limited.

Why these moved (grounded notes)

One observable field, one stated limitation per ticker. Net per share rank is not a quality ranking.

• HIYY (G1): net per share 2.480, net $3.60M — PIN $11.71M, POUT $8.11M, intra 5 files, holdings 14. Full coverage; PIN/POUT both visible. First lead position in tracked top 10; previously appeared at 0.585. Premium +7.35% — widest in ranked set this week.
• QDTY (G1): net per share 2.264, net $1.42M — PIN $1.42M, POUT $0, intra 5 files, holdings 2. Full intraday coverage; POUT=0 — gross premium only. Second consecutive week in top 10; figure down from 5.305 last week. ⚠ Cross-ticker comparability limited.
• GMEY (G1): net per share 1.880, net $0.14M — PIN $0.19M, POUT $0.05M, intra 3 files, holdings 8. Partial intraday coverage (3/5 files). Returns to top 10 — prior read: 0.556 under 2 intraday files; fuller coverage this week. Discount −0.20%.
• ABNY (G2, underlier ABNB): net per share 1.732, net $0.88M — PIN $1.39M, POUT $0.51M, intra 3 files, holdings 8. Spread-based; PIN/POUT both visible. Partial intraday coverage (3/5 files). Returns to top 10 — prior reads: 0.390 and 0.494; this week’s 1.732 is materially larger than either prior figure. Premium +1.07%.
• SDTY (G1): net per share 1.325, net $0.70M — PIN $0.70M, POUT $0, intra 5 files, holdings 1. Full intraday coverage; POUT=0, holdings_rows=1 — gross premium only. ⚠ Cross-ticker comparability limited.
• YBIT (G1): net per share 1.119, net $1.99M — PIN $2.38M, POUT $0.39M, intra 4 files, holdings 9. No structural flags. Premium +0.17%.
• CRCO (G2, underlier CRCL): net per share 1.095, net $1.12M — PIN $1.81M, POUT $0.69M, intra 3 files, holdings 6. Spread-based; partial intraday coverage (3/5 files). Premium +0.09%.
• MRNY (G1): net per share 1.029, net $5.64M — PIN $8.24M, POUT $2.60M, intra 4 files, holdings 6. No income-source flags. Discount −3.86% — widest in this week’s ranked set. Pricing context logged separately from income-source read.
• PLTY (G2, underlier PLTR): net per share 0.961, net $9.54M — PIN $17.27M, POUT $7.74M, intra 5 files, holdings 15. Largest absolute net in Group-2 this week. Premium +1.05%.
• RDYY (G2, underlier RDDT): net per share 0.633, net $0.24M — PIN $0.59M, POUT $0.36M, intra 3 files, holdings 6. Spread-based; partial intraday coverage (3/5 files). Premium +1.58%.

Weekly take (author commentary)

The clearest thing about this week’s table is the contrast at the top. HIYY ranks first with both legs of the trade visible — PIN at $11.7M, POUT at $8.1M, net after rolling costs subtracted. QDTY ranks second with POUT still absent. Those two entries sit next to each other in the ranking column. The mechanics behind them are structurally different.

QDTY‘s drop from 5.305 to 2.264 is the more interesting data point this week. The coverage is identical — five intraday files both weeks. The figure compressed by more than half. POUT remained at zero throughout. That leaves the compression unexplained by structure alone; the premium environment in that window produced a smaller gross figure. Two consecutive weeks of data is still a short read. What it adds is confirmation that last week’s 5.305 was not a repeating baseline.

MRNY sits at rank 8 with a net per share figure that would not stand out on its own — 1.029, four intraday files, no income-source flags. The −3.86% discount is what makes it worth a separate note. A fund can show reasonable income-source activity in the same window where its market price has drifted below NAV. Those are different layers. The discount does not tell us whether the income formation is strong or weak. The income-source figure does not tell us why the price gap opened. Both are logged here without conflating them.

Four of this week’s ten ranked entries show three-file intraday coverage rather than five: GMEY, ABNY, CRCO, and RDYY. Two more entries, YBIT and MRNY, sit at four files. That does not disqualify any of these reads, but it does mean coverage depth varies materially across the table.

The broader picture this week is more mixed than last week’s uniformly negative set. Most of the ranked entries show positive net — PIN exceeding POUT — which is a different character from the prior window where negativity ran across the full set. That shift is observable in the data. What produced it is not answerable from the weekly snapshot alone.

A note on how to read this table: net per share rank and coverage depth are not the same axis. PLTY ranks ninth with 15 holdings rows and 5 intraday files — among the fullest observations in this week’s set. The dollar figures behind it ($17.3M PIN, $7.7M POUT) are also the largest in absolute terms among Group-2. Rank ninth by per-share normalization; most complete read by coverage depth. Both are valid lenses. Neither alone is the whole picture.

This is not an ex-dividend-cycle model and not a performance score. Net per share is a weekly cashflow ratio derived from observed option trades — not a distribution forecast and not a total return measure. Income-source tracking and NAV movement are separate observations; both matter, and neither replaces the other.

Risk checklist (readable, not fine print)

• HIYY: first lead position in tracked top 10 — previously appeared at 0.585; this week’s 2.480 is the highest figure for this ticker in the tracked set. Premium +7.35% is pricing context, not an income-source signal.
• QDTY: second consecutive week in top 10, POUT=0 — figure reflects gross premium only; do not read directly against spread-based funds. Net per share dropped from 5.305 to 2.264 week-over-week under identical coverage.
• SDTY: POUT=0, holdings_rows=1 — extraction-valid but structurally limited; cross-ticker comparability limited.
• MRNY: discount −3.86% logged as pricing context; income-source figure and price gap are separate layers.
• Coverage varies week to week; income-source signals are not total return — net per share can be positive in the same window where NAV moves in either direction.

Top 3 highlight cards

Coverage notes (intraday/holdings)

Top movers — full table

Group-3 reference

Group-3 this week: MSST (net per share
−5.493, intra 2 files) and NVIT (net per share −3.105, intra 2 files). Both show negative net — POUT exceeded PIN in each case — under partial two-file coverage. These are
partial-coverage observations, not full-window reads. TEST had no intraday files this window and is excluded from this snapshot.

Target-12 reference

Target-12 this week shows a split picture.
SOXY posted net per share
0.268 under full five-file coverage — the fullest coverage read in the group this window.
BIGY posted 0.024 under four intraday files, a small positive figure. Both are logged as valid observations at their respective coverage levels. RNTY posted −0.005 under a single intraday file — treat as a
thin-coverage partial observation only. The Target-12 structure targets a 12% annualized income level and manages its rolling cycle differently from standard weekly-cadence funds; a negative or near-zero net within a single window is a logged data point, not a cycle conclusion.

Next-week watchlist (monitoring prompts)

• HIYY: Does HIYY reappear next week at comparable coverage? First lead here, with prior read at 0.585 — one week at the top is not a pattern. Whether PIN/POUT structure holds and whether the figure compresses or holds are the two things to watch. The +7.35% premium is also worth tracking independently.
• QDTY: Does POUT appear in a third consecutive window where it has been absent for two? The figure dropped from 5.305 to 2.264 with identical coverage — tracking whether that compression continues or reverses adds more context than either week alone.

These are monitoring prompts, not recommendations.

Data scope & limits

• This post tracks weekly options income-source signals using intraday + holdings data. It is not an ex-dividend- cycle model.
• Missing or holiday days are skipped (no forced fills).
• Net per share reflects observed realized cashflow within the capture window — not declared distributions, not total return, not a forecast of future income.
• This week’s note: HIYY’s +7.35% premium is the widest in this week’s ranked set — treat it as pricing context, not an income-source signal.

Ticker links open the latest view. Internal links: Guide · Glossary · Featured ticker (HIYY) · Net per Share explained · Why coverage matters · last week’s recap

Frozen snapshot for 2026-04-24. Corrections appear in subsequent weekly logs.

Reference-only (excluded from ranking)