IVE Dividend Type Payments

iShares S&P 500 Value ETF dividend

Although IVE has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on iShares S&P 500 Value ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 12:05 PM ET):

iShares S&P 500 Value ETF (IVE)
Bid Ask Last Change Volume P/E Market Cap
201.00 201.04 201.01 -0.66 99K - 14B

IVE Dividend-Like Income Using Covered Calls

With IVE at 201.01, 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% 6.03 1.7
5% 10.05 2.8
10% 20.10 5.5

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 IVE Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Oct 17 205.00 2.00 58 3.4 3.96 (2.0%)
Jan 16 205.00 5.40 149 3.6 3.96 (2.0%)
5% Yield On IVE Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Oct 17 205.00 2.00 58 3.4 3.96 (2.0%)
Jan 16 205.00 5.40 149 3.6 3.96 (2.0%)

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