TINY Dividend Type Payments

Although TINY has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on ProShares Nanotechnology ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 12:20 PM ET):

ProShares Nanotechnology ETF (TINY)
Bid Ask Last Change Volume P/E Market Cap
52.93 53.89 52.29 0.00 0K - 0.0B

TINY Dividend-Like Income Using Covered Calls

With TINY at 52.29, 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% 1.57 0.4
5% 2.61 0.7
10% 5.23 1.4

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 TINY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 15 54.00 2.35 145 1.6 0.11 (0.2%)
Feb 20 55.00 0.40 61 0.7 1.11 (2.1%)
5% Yield On TINY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 15 54.00 2.35 145 1.6 0.11 (0.2%)
Aug 21 54.00 3.50 243 1.4 0.11 (0.2%)
10% Yield On TINY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 15 54.00 2.35 145 1.6 0.11 (0.2%)
Aug 21 54.00 3.50 243 1.4 0.11 (0.2%)

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