Direxion META Defined Income Boost ETF (MEIB) Stock Price, Quote, News & History | Benzinga

To achieve its investment objective, The Index is designed to track the performance of an investment strategy that systematically attempts to collect a target amount of income from option premiums by writing (selling) weekly, out-of-the-money equity call options on an underlying security (i.e., common shares of Meta Platforms, Inc. (NASDAQ: META) (META)) based on the Indexs target distribution amount, with daily delta hedging (as discussed below) conducted through long positions in the underlying security. The Indexs target distribution amount is set by Cboe Global Indices, LLC (the Index Provider) and is currently set at an annualized distribution rate of 20 percent.