TLH Dividend Type Payments

Although TLH has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on iShares 10-20 Year Treasury Bond 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):

iShares 10-20 Year Treasury Bond ETF (TLH)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
102.09	102.15	102.15	+0.22	499K	-	0.4B

TLH Dividend-Like Income Using Covered Calls

With TLH at 102.15, 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%	3.06	0.8
5%	5.11	1.4
10%	10.22	2.8

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:

3% Yield On TLH Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	102.00	1.65	53	2.8	0.00 (0.0%)
Sep 19	102.00	3.40	208	1.6	0.00 (0.0%)

5% Yield On TLH Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	102.00	1.65	53	2.8	0.00 (0.0%)
Sep 19	102.00	3.40	208	1.6	0.00 (0.0%)

10% Yield On TLH Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	102.00	1.65	53	2.8	0.00 (0.0%)
Mar 21	102.00	1.10	26	3.7	0.00 (0.0%)

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