The Tidal Trust II YieldMax Ultra Option Income Strategy ETF (ULTY) is down 7.4% in pre-market hours on Thursday, November 14, falling to $9.89 as of 6:12 AM ET, amid a broader market downturn impacting income-generating strategies. The underlying assets, which include a mix of high-yield bonds and options strategies, are facing pressure due to rising interest rates and increased market volatility. Investors are becoming cautious as the Federal Reserve signals potential rate hikes, which could lead to higher borrowing costs and reduced profitability for companies issuing high-yield bonds. Additionally, the options market is experiencing heightened volatility, making income strategies less predictable and increasing the risk for investors seeking stable returns.