HYMB Dividend Type Payments
Although HYMB has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on SPDR Nuveen Bloomberg High Yield Municipal Bond ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 2:25 PM ET):
| SPDR Nuveen Bloomberg High Yield Municipal Bond ETF (HYMB) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 25.45 | 25.46 | 25.45 | -0.14 | 362K | - | 0.2B |
HYMB Dividend-Like Income Using Covered Calls
With HYMB at 25.45, 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% | 0.76 | 0.2 |
| 5% | 1.27 | 0.3 |
| 10% | 2.55 | 0.7 |
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:
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| Top 10 Open Interest For Jan 17 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | SPY dividend | 1. | RGTI dividend | |
| 2. | SLV dividend | 7. | XLF dividend | 2. | IONQ dividend | |
| 3. | AAPL dividend | 8. | IWM dividend | 3. | SWTX dividend | |
| 4. | EEM dividend | 9. | TSLA dividend | 4. | WBA dividend | |
| 5. | INTC dividend | 10. | TLT dividend | 5. | APLD dividend | |
Want more examples? HYLN Dividend | HYS Dividend
