EWV Dividend Type Payments

PROSHARES ULTRA-SHORT MSCI JAPA dividend

Although EWV has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on PROSHARES ULTRA-SHORT MSCI JAPA to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 4:00 PM ET):

PROSHARES ULTRA-SHORT MSCI JAPA (EWV)
Bid Ask Last Change Volume P/E Market Cap
28.33 28.42 28.32 +0.64 5K - 0.1B

EWV Dividend-Like Income Using Covered Calls

With EWV at 28.32, 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% 0.85 0.2
5% 1.42 0.4
10% 2.83 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 EWV Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Sep 21 30.00 0.35 38 0.9 1.58 (5.6%)
Oct 19 31.00 0.45 66 0.7 2.58 (9.1%)
5% Yield On EWV Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Sep 21 30.00 0.35 38 0.9 1.58 (5.6%)
Oct 19 31.00 0.45 66 0.7 2.58 (9.1%)
10% Yield On EWV Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Sep 21 30.00 0.35 38 0.9 1.58 (5.6%)
Oct 19 30.00 0.65 66 1.0 1.58 (5.6%)

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