SPXN Dividend Type Payments
Although SPXN has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on ProShares S&P 500 Ex-Financials 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):
| ProShares S&P 500 Ex-Financials ETF (SPXN) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 60.27 | 67.55 | 63.99 | -0.16 | 1K | - | 0.1B |
SPXN Dividend-Like Income Using Covered Calls
With SPXN at 63.99, 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% | 1.92 | 0.5 |
| 5% | 3.20 | 0.9 |
| 10% | 6.40 | 1.8 |
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 Nov 15 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | FXI dividend | 6. | IWM dividend | 1. | ZI dividend | |
| 2. | NVDA dividend | 7. | EEM dividend | 2. | GRPN dividend | |
| 3. | SPY dividend | 8. | TLT dividend | 3. | PRMW dividend | |
| 4. | SLV dividend | 9. | EWZ dividend | 4. | RKT dividend | |
| 5. | TSLA dividend | 10. | SMCI dividend | 5. | CART dividend | |
Want more examples? SPXL Dividend | SPXS Dividend
