UPW Dividend Type Payments
Although UPW has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on ProShares Ultra Utilities to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 4:16 PM ET):
| ProShares Ultra Utilities (UPW) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 68.28 | 88.00 | 70.58 | +0.51 | 3K | - | 0.0B |
UPW Dividend-Like Income Using Covered Calls
With UPW at 70.58, 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% | 2.12 | 0.6 |
| 5% | 3.53 | 1.0 |
| 10% | 7.06 | 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:
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| Top 10 Open Interest For Jan 17 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | INTC dividend | 1. | QBTS dividend | |
| 2. | SLV dividend | 7. | SPY dividend | 2. | CCL dividend | |
| 3. | AAPL dividend | 8. | TSLA dividend | 3. | APLD dividend | |
| 4. | EEM dividend | 9. | IWM dividend | 4. | QUBT dividend | |
| 5. | XLF dividend | 10. | TLT dividend | 5. | CLSK dividend | |
Want more examples? UPV Dividend | UPWK Dividend
