MDYG Dividend Type Payments

Although MDYG has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on State Street SPDR S&P 400 Mid Cap Growth ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 4:16 PM ET):

State Street SPDR S&P 400 Mid Cap Growth ETF (MDYG)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
94.35	95.17	94.63	0.00	44K	-	0.4B

MDYG Dividend-Like Income Using Covered Calls

With MDYG at 94.63, 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%	2.84	0.8
5%	4.73	1.3
10%	9.46	2.6

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 MDYG Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jun 18	95.00	1.55	175	0.8	0.00 (0.0%)
Feb 20	97.00	0.80	57	1.4	1.83 (1.9%)

5% Yield On MDYG Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Feb 20	97.00	0.80	57	1.4	1.83 (1.9%)

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