XLI Dividend Type Payments

Although XLI has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on SPDR Select Sector Fund - Industrial 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):

SPDR Select Sector Fund - Industrial (XLI)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
155.22	156.23	155.79	+0.88	5.8M	-	24B

XLI Dividend-Like Income Using Covered Calls

With XLI at 155.79, 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%	4.67	1.3
5%	7.79	2.1
10%	15.58	4.3

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 XLI Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 5	156.00	1.86	40	4.1	0.00 (0.0%)
Nov 7	158.00	0.30	12	2.5	1.77 (1.1%)

5% Yield On XLI Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 5	156.00	1.86	40	4.1	0.00 (0.0%)
Nov 7	158.00	0.30	12	2.5	1.77 (1.1%)

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Want more examples? XLG Dividend | XLK Dividend