GREK Dividend Type Payments

Global X MSCI Greece ETF dividend

Although GREK has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Global X MSCI Greece ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 4:16 PM ET):

Global X MSCI Greece ETF (GREK)
Bid Ask Last Change Volume P/E Market Cap
62.02 62.50 62.02 +1.68 58K - 0.2B

GREK Dividend-Like Income Using Covered Calls

With GREK at 62.02, here's a table showing how big the annual "dividend" (i.e. total annual call premium received) would need to be to attain 3%, 5%, and 10% annual yields. Also shown is the equivalent number of cents/day necessary to achieve each yield:

Annual Yield Annual Premium Cents/Day
3% 1.86 0.5
5% 3.10 0.8
10% 6.20 1.7

So now we need to find out of the money covered calls that pay at least the prescribed cents/day amount of time premium. That will generate income and, because they are out of the money, leave room for some upside potential on the stock. Here are some examples:

3% Yield On GREK Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Sep 19 63.00 1.20 47 2.6 0.50 (0.8%)
Dec 19 65.00 1.75 138 1.3 2.50 (4.0%)
5% Yield On GREK Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Sep 19 63.00 1.20 47 2.6 0.50 (0.8%)
Dec 19 65.00 1.75 138 1.3 2.50 (4.0%)
10% Yield On GREK Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Sep 19 63.00 1.20 47 2.6 0.50 (0.8%)

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