I don’t think NVII is a covered call strategy…more so a leveraged ETF.
If you compare NVII and NVDA from end of May 2025 to August 2025, the trend is the same, strong up. But, because NVII is leveraged 105-150% of NVDA, when NVDA chops sideways, the ETF goes down. Say, NVDA goes up 10% one day...