SPYX Dividend Type Payments
Although SPYX has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on SPDR S&P 500 Fossil Fuel Reserves Free ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 4:16 PM ET):
| SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 54.28 | 54.45 | 54.39 | +0.26 | 41K | - | 0.0B |
SPYX Dividend-Like Income Using Covered Calls
With SPYX at 54.39, 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% | 1.63 | 0.4 |
| 5% | 2.72 | 0.7 |
| 10% | 5.44 | 1.5 |
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 SPYX Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Jan 16 | 56.00 | 0.75 | 124 | 0.6 | 1.55 (2.8%) | |
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| Top 10 Open Interest For Sep 19 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | EEM dividend | 1. | OPEN dividend | |
| 2. | SPY dividend | 7. | QQQ dividend | 2. | QURE dividend | |
| 3. | IWM dividend | 8. | TSLA dividend | 3. | REPL dividend | |
| 4. | PCG dividend | 9. | SLV dividend | 4. | APPS dividend | |
| 5. | IBIT dividend | 10. | FXI dividend | 5. | GRAL dividend | |
Want more examples? SPYV Dividend | SQEW Dividend
