DRIV Dividend Type Payments

Global X Autonomous & Electric Vehicles ETF dividend

Although DRIV has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Global X Autonomous & Electric Vehicles ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 4:16 PM ET):

Global X Autonomous & Electric Vehicles ETF (DRIV)
Bid Ask Last Change Volume P/E Market Cap
28.76 30.00 29.42 -1.09 56K - 0.5B

DRIV Dividend-Like Income Using Covered Calls

With DRIV at 29.42, 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% 0.88 0.2
5% 1.47 0.4
10% 2.94 0.8

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 DRIV Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Nov 21 31.00 0.15 18 0.8 1.00 (3.4%)
5% Yield On DRIV Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Nov 21 31.00 0.15 18 0.8 1.00 (3.4%)
10% Yield On DRIV Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Nov 21 31.00 0.15 18 0.8 1.00 (3.4%)

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Top 10 Open Interest For Nov 21 Expiration     Top 5 High Yield
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5.GLD dividend 10.EEM dividend   5.TTD dividend

Want more examples? DRIP Dividend | DRN Dividend