BNO Dividend Type Payments

Although BNO has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on United States Brent Oil Fund, LP ETV to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 10:15 AM ET):

United States Brent Oil Fund, LP ETV (BNO)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
30.62	30.63	30.63	+0.20	216K	-	0.2B

BNO Dividend-Like Income Using Covered Calls

With BNO at 30.63, 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%	0.92	0.3
5%	1.53	0.4
10%	3.06	0.8

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 BNO Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	31.00	1.10	53	2.1	0.37 (1.2%)
Oct 17	31.00	2.70	236	1.1	0.37 (1.2%)

5% Yield On BNO Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	31.00	1.10	53	2.1	0.37 (1.2%)
Oct 17	31.00	2.70	236	1.1	0.37 (1.2%)

10% Yield On BNO Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	31.00	1.10	53	2.1	0.37 (1.2%)
Oct 17	31.00	2.70	236	1.1	0.37 (1.2%)

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Want more examples? BNL Dividend | BNS Dividend