SLYG Dividend Type Payments

Although SLYG has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on SPDR S&P 600 Small Cap Growth ETF (based on S&P SmallCap 600 Growth Inde to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 10:20 AM ET):

SPDR S&P 600 Small Cap Growth ETF (based on S&P SmallCap 600 Growth Inde (SLYG)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
94.42	94.58	94.58	-0.19	13K	-	0.7B

SLYG Dividend-Like Income Using Covered Calls

With SLYG at 94.58, 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%	2.84	0.8
5%	4.73	1.3
10%	9.46	2.6

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 SLYG Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	95.00	3.20	206	1.6	0.42 (0.4%)
May 16	95.00	1.65	115	1.4	0.42 (0.4%)

5% Yield On SLYG Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	95.00	3.20	206	1.6	0.42 (0.4%)
May 16	95.00	1.65	115	1.4	0.42 (0.4%)

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Want more examples? SLX Dividend | SLYV Dividend