SLYG Dividend Type Payments

Although SLYG has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on State Street SPDR S&P 600 Small 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 Wed 1:05 PM ET):

State Street SPDR S&P 600 Small Cap Growth ETF (SLYG)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
93.64	93.71	93.62	+1.47	64K	-	0.6B

SLYG Dividend-Like Income Using Covered Calls

With SLYG at 93.62, 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%	2.81	0.8
5%	4.68	1.3
10%	9.36	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 SLYG Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	94.00	0.80	45	1.8	0.29 (0.3%)
May 15	94.00	3.90	192	2.0	0.29 (0.3%)

5% Yield On SLYG Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	94.00	0.80	45	1.8	0.29 (0.3%)
May 15	94.00	3.90	192	2.0	0.29 (0.3%)

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Want more examples? SLX Dividend | SLYV Dividend