If you've ever wished your portfolio could hand you a paycheck every week, GraniteShares might have just the thing. The firm rolled out four new ETFs under its YieldBOOST platform, designed to generate weekly income by selling put options on leveraged ETFs. The funds target four distinct themes: biotech, financials, technology, and long-duration Treasuries.

The new ETFs are:

• GraniteShares YieldBOOST Biotech ETF (BIOY)
• GraniteShares YieldBOOST Financials ETF (FINY)
• GraniteShares YieldBOOST Technology ETF (TECY)
• GraniteShares YieldBOOST 20Y+ Treasuries ETF (FIYY)

Here's how it works: Each fund primarily writes put options on 3x leveraged ETFs that track major benchmarks like the S&P Biotechnology Select Industry Index, Financial Select Sector Index, Technology Select Sector Index, and the ICE U.S. Treasury 20+ Year Bond Index. By selling puts, the funds collect premiums—and because leveraged ETFs tend to have higher implied volatility, those premiums can be juicier. The goal is to turn that volatility into a steady stream of weekly income.

GraniteShares CEO Will Rhind explained that the strategy is designed to harness elevated implied volatility in leveraged products to enhance income potential. But he also noted that distributions are not guaranteed—so it's not quite a sure thing.

The funds offer a few key features worth noting:

• Options-driven weekly income: Each fund primarily sells put options on 3x leveraged ETFs to capture higher premiums from volatility.
• Sector-focused exposure: Targets biotech (BIOY), financials (FINY), and technology (TECY), alongside long-duration bonds (FIYY).
• High volatility angle: Strategies aim to benefit from sectors with structurally elevated implied volatility, such as biotech and rate-sensitive Treasuries.
• Alternative to traditional income: Designed for investors seeking yield beyond conventional dividend or bond strategies.
• Indirect leveraged exposure: While not directly holding leveraged ETFs, income is derived from options tied to those instruments.

This launch builds on GraniteShares' push into income-oriented ETFs, leveraging its expertise in high-conviction and leveraged strategies. As of late April, the firm managed $11.58 billion in assets. For investors looking to spice up their income stream with a weekly payout, these new ETFs might be worth a closer look.