TMV Dividend Type Payments

Although TMV has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Direxion Daily 20-Year Treasury Bear 3X 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):

Direxion Daily 20-Year Treasury Bear 3X (TMV)
Bid Ask Last Change Volume P/E Market Cap
36.02 36.07 35.96 +0.59 916K - 0.1B

TMV Dividend-Like Income Using Covered Calls

With TMV at 35.96, 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% 1.08 0.3
5% 1.80 0.5
10% 3.60 1.0

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 TMV Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 36.00 3.60 155 2.3 0.00 (0.0%)
May 16 36.00 1.05 64 1.5 0.00 (0.0%)
5% Yield On TMV Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 36.00 3.60 155 2.3 0.00 (0.0%)
May 16 36.00 1.05 64 1.5 0.00 (0.0%)
10% Yield On TMV Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 36.00 3.60 155 2.3 0.00 (0.0%)
May 16 36.00 1.05 64 1.5 0.00 (0.0%)

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