IVW Dividend Type Payments

Although IVW has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on iShares S&P 500 Growth ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 4:16 PM ET):

iShares S&P 500 Growth ETF (IVW)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
103.00	105.38	104.19	-0.49	2.0M	-	39B

IVW Dividend-Like Income Using Covered Calls

With IVW at 104.19, 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%	3.13	0.9
5%	5.21	1.4
10%	10.42	2.9

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 IVW Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	105.00	2.50	77	2.8	0.00 (0.0%)
Jul 18	105.00	5.40	169	3.0	0.00 (0.0%)

5% Yield On IVW Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	105.00	2.50	77	2.8	0.00 (0.0%)
Jul 18	105.00	5.40	169	3.0	0.00 (0.0%)

10% Yield On IVW Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jul 18	105.00	5.40	169	3.0	0.00 (0.0%)
Mar 21	105.00	2.40	50	4.0	0.00 (0.0%)

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Want more examples? IVV Dividend | IVZ Dividend