Bitwise MARA Option Income Strategy ETF (IMRA) - Stock Analysis
Last updated: Jan 13, 2026
Research Idea
Research content for general circulation. Not individualized advice. Methodology & Disclosures
IMRA is not selected due to significant short-term technical weakness and lack of new catalysts; excluded per rules.
Loading chart data...
AI Analyst Overview
Loading chart data...
Valuation Metrics
Price Behavior
Key Price Behavior Insights: ⢠Short-term downtrend ⢠Support holding ⢠Weak upside Support Level: $15.50-$16.50 Resistance Level: $18.88 (near-term); $28.00-$31.00 (prior highs) IMRA is in a short-term downtrend over the last month, testing support around $15.50â$16.50 amid lower highs and weakening momentum after a peak near $18.88.
Sentiment & News
Key News Insights: ⢠Monthly distribution ⢠No changes ⢠IMRA operational Bitwise confirmed its December 2025 monthly distributions for Option Income Strategy ETFs including IMRA, signaling routine ongoing payouts with no changes reported.
AI Summary
IMRA should be viewed primarily as a highâincome, synthetic coveredâcall wrapper on MARAâits very high headline yield is driven by option premiums and Treasury collateral but is fragile given tiny AUM, concentrated MARA exposure, structurally capped upside, and material distribution and closure risk.
Description
This actively managed ETF uses a synthetic covered-call options approach to produce monthly income while limiting upside participation in MARA Holdings. The fund gains exposure through structured call and put spreads rather than by owning MARA shares directly, resulting in capped upside and option-derived cash flow.
Idea History
| Date | Close | Ticker | Company | Summary | Status | P/L |
|---|---|---|---|---|---|---|
| Dec 25 | Jan 1 | IMRA | Bitwise MARA Option Income Strategy ETF | IMRA is not selected due to significant short-term technical weakness and lack of new catalysts; excluded per rules. | Closed | -7.3% |