SPHB Dividend Type Payments

Although SPHB has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Invesco S&P 500 High Beta 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):

Invesco S&P 500 High Beta ETF (SPHB)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
69.40	71.91	70.72	-1.91	746K	-	0.3B

SPHB Dividend-Like Income Using Covered Calls

With SPHB at 70.72, 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%	2.12	0.6
5%	3.54	1.0
10%	7.07	1.9

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 SPHB Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	72.00	2.75	26	10.6	0.09 (0.1%)
Sep 19	72.00	5.50	152	3.6	0.09 (0.1%)

5% Yield On SPHB Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	72.00	2.75	26	10.6	0.09 (0.1%)
Sep 19	72.00	5.50	152	3.6	0.09 (0.1%)

10% Yield On SPHB Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	72.00	2.75	26	10.6	0.09 (0.1%)
Sep 19	72.00	5.50	152	3.6	0.09 (0.1%)

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Top 10 Open Interest For May 16 Expiration				Top 5 High Yield
1.	NVDA dividend	6.	IWM dividend	1.	STLA dividend
2.	SPY dividend	7.	GLD dividend	2.	HOOD dividend
3.	TLT dividend	8.	FXI dividend	3.	VRT dividend
4.	SLV dividend	9.	TSLA dividend	4.	UPST dividend
5.	QQQ dividend	10.	KWEB dividend	5.	RIOT dividend

Want more examples? SPH Dividend | SPHD Dividend