27% Yield. Here Pigeon! Here Pigeon!
If you think a 27% yield is legitimate you need to a see a shrink.
Ask yourself who would buy puts on an affiliated company's stock.
It's not a 'yield' since the trust has a limited lifetime.
So you're 'analysis' is flawed.
Well now, we all have "limited lifetimes" even when the limit is not determined as is SDR's. It's all in knowing when to hold 'em, when to fold 'em. Think: Enron!
I see Royal Bank of Canada recently collected about $51,000 in SDR quarterly dividends. Not too shabby! To each his own.