Down 50%, Is PYPY a Lost Cause or a Hidden Opportunity? - 24/7 Wall St. Stock Market Live April 9, 2026: S&P 500 (SPY) Reverses as Oil Gushes Higher Down 50%, Is PYPY a Lost Cause or a Hidden Opportunity? YieldMax PYPL Option Income Strategy ETF (PYPY) — delivers 72% yield through weekly distributions despite PayPal stock collapsing. PYPY's synthetic covered call strategy caps gains when PayPal recovers but absorbs full declines, limiting upside potential. Nearly 93% of distributions are return of capital, ...