IVW Dividend Type Payments

Although IVW has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on iShares S&P 500 Growth ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 4:16 PM ET):

iShares S&P 500 Growth ETF (IVW)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
119.28	120.90	119.77	-2.29	1.7M	-	46B

IVW Dividend-Like Income Using Covered Calls

With IVW at 119.77, 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%	3.59	1.0
5%	5.99	1.6
10%	11.98	3.3

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 IVW Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	121.00	0.30	3	10.0	0.10 (0.1%)
Jan 16	125.00	0.50	31	1.6	4.10 (3.4%)

5% Yield On IVW Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	121.00	0.30	3	10.0	0.10 (0.1%)
Apr 17	121.00	4.30	122	3.5	0.10 (0.1%)

10% Yield On IVW Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	121.00	0.30	3	10.0	0.10 (0.1%)
Apr 17	121.00	4.30	122	3.5	0.10 (0.1%)

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5.	TLT dividend	10.	AMZN dividend	5.	ALT dividend

Want more examples? IVV Dividend | IVZ Dividend