TYO Dividend Type Payments

Although TYO has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Direxion Daily 10-Yr Treasury Bear 3x Shrs 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 10-Yr Treasury Bear 3x Shrs (TYO)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
14.90	15.09	15.04	+0.14	12K	-	0.0B

TYO Dividend-Like Income Using Covered Calls

With TYO at 15.04, 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%	0.45	0.1
5%	0.75	0.2
10%	1.50	0.4

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 TYO Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	16.00	0.75	232	0.3	0.91 (6.1%)
May 16	16.00	0.50	141	0.4	0.91 (6.1%)

5% Yield On TYO Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	16.00	0.75	232	0.3	0.91 (6.1%)
May 16	16.00	0.50	141	0.4	0.91 (6.1%)

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Want more examples? TYL Dividend | TZA Dividend