back in the 2016 run, played with Nugt (and a little of Jnug) by owning shares and selling the weekly covered calls. When things got 'hot', there were even days where I was flipping covered calls that were seeing $5/'sh' swings in their prices. And yeah, often lost the shares when the share price took off and I could only say, ok, time to buy another round of shares and flip more calls..
On Jnug this morn, picked up 200 shares sub $80/sh... Sold next weeks calls at the $85 strike for $2.6/'sh'... Going to see how it works out for me this time around... and as mentioned, lightened up on my Nugt position, and sold calls on the few remaining shares I have... But they aren't as 'nice' as Jnugs calls..
disclaimer: MTAFF AXU small Nugt and Jnug positions