EWV Dividend Type Payments

ProShares UltraShort MSCI Japan dividend

Although EWV has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on ProShares UltraShort MSCI Japan to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 10:55 AM ET):

ProShares UltraShort MSCI Japan (EWV)
Bid Ask Last Change Volume P/E Market Cap
31.11 31.42 31.29 +0.20 0K - 0.0B

EWV Dividend-Like Income Using Covered Calls

With EWV at 31.29, here's a table showing how big the annual "dividend" (ie. 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% 0.94 0.3
5% 1.56 0.4
10% 3.13 0.9

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:

3% Yield On EWV Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 21 32.00 0.15 9 1.7 0.58 (1.9%)
Jan 18 36.00 0.10 37 0.3 4.58 (14.6%)
5% Yield On EWV Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 21 32.00 0.15 9 1.7 0.58 (1.9%)
Jan 18 35.00 0.20 37 0.5 3.58 (11.4%)
10% Yield On EWV Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 21 32.00 0.15 9 1.7 0.58 (1.9%)
Jan 18 33.00 0.40 37 1.1 1.58 (5.0%)

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