SPYV Dividend Type Payments

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

SPDR Series Trust SPDR Portfolio S&P 500 Value ETF (SPYV)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
51.08	51.35	51.23	+0.05	1.8M	-	0.4B

SPYV Dividend-Like Income Using Covered Calls

With SPYV at 51.23, 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%	1.54	0.4
5%	2.56	0.7
10%	5.12	1.4

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 SPYV Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jun 20	52.00	1.35	164	0.8	0.65 (1.3%)
Feb 21	52.00	0.50	45	1.1	0.65 (1.3%)

5% Yield On SPYV Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jun 20	52.00	1.35	164	0.8	0.65 (1.3%)
Feb 21	52.00	0.50	45	1.1	0.65 (1.3%)

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Want more examples? SPYG Dividend | SPYX Dividend