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 Thu 11:50 AM ET):
| ProShares S&P 500 Ex-Financials ETF (SPXN) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 70.75 | 70.87 | 70.40 | 0.00 | 0K | - | 0.1B |
SPXN Dividend-Like Income Using Covered Calls
With SPXN at 70.40, 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% | 2.11 | 0.6 |
| 5% | 3.52 | 1.0 |
| 10% | 7.04 | 1.9 |
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 SPXN Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Apr 17 | 71.00 | 1.75 | 219 | 0.8 | 0.13 (0.2%) | |
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| Top 10 Open Interest For Sep 19 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | IBIT dividend | 1. | ADBE dividend | |
| 2. | IWM dividend | 7. | QQQ dividend | 2. | ATYR dividend | |
| 3. | SPY dividend | 8. | FXI dividend | 3. | OPEN dividend | |
| 4. | PCG dividend | 9. | SLV dividend | 4. | RH dividend | |
| 5. | EEM dividend | 10. | TSLA dividend | 5. | UUUU dividend | |
Want more examples? SPXL Dividend | SPXS Dividend
