YieldMax AMD Option Income ETF doubles in 2026, outperforming S&P 500 with strong AMD gains and option premiums.

The YieldMax AMD Option Income Strategy ETF (AMDY) doubled in value in 2026, rising from $28 to $57, significantly outperforming the S&P 500's 11% gain. This was driven by AMD's stock soaring 141% due to major AI-related contracts with OpenAI and Meta, which kept option premiums high for the fund's covered call strategy. AMDY's structure benefits from steady upward trends and elevated volatility but caps upside gains due to sold call options. Investors should watch AMD's price trend, implied volatility, and upcoming product ramps to gauge if AMDY's strong performance can continue, as the fund trades off some upside for steady income.