IWN Dividend Type Payments
Although IWN has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on iShares Russell 2000 Value ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 4:16 PM ET):
| iShares Russell 2000 Value ETF (IWN) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 136.00 | 158.64 | 146.30 | -1.13 | 932K | - | 12B |
IWN Dividend-Like Income Using Covered Calls
With IWN at 146.30, 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% | 4.39 | 1.2 |
| 5% | 7.32 | 2.0 |
| 10% | 14.63 | 4.0 |
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:
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| Top 10 Open Interest For May 16 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | IWM dividend | 1. | UPST dividend | |
| 2. | SPY dividend | 7. | FXI dividend | 2. | APP dividend | |
| 3. | TLT dividend | 8. | TSLA dividend | 3. | IONQ dividend | |
| 4. | SLV dividend | 9. | GLD dividend | 4. | RUN dividend | |
| 5. | QQQ dividend | 10. | INTC dividend | 5. | PINS dividend | |
Want more examples? IWM Dividend | IWO Dividend
