Swap Options For Reducing Discount Risk And Not Sacrificing A Ton Of Yield

Summary

In counter-cyclical investing, we want to buy CEFs when discounts are wide and sell them when discounts are tight.

The problem we run into is that when we swap, we give up the upside of the NAVs should the bull market continue.  We also give up higher income streams.

The options below get as close as possible to CEF yields without the discount risk.