FNX Dividend Type Payments

Although FNX has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on First Trust Mid Cap Core AlphaDEX Fund to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 10:15 AM ET):

First Trust Mid Cap Core AlphaDEX Fund (FNX)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
105.81	105.98	106.53	+0.53	1K	-	1.1B

FNX Dividend-Like Income Using Covered Calls

With FNX at 106.53, 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%	3.20	0.9
5%	5.33	1.5
10%	10.65	2.9

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 FNX Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 17	106.00	0.70	17	4.1	0.02 (0.0%)
Oct 18	106.00	4.70	171	2.7	0.02 (0.0%)

5% Yield On FNX Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 17	106.00	0.70	17	4.1	0.02 (0.0%)
Oct 18	106.00	4.70	171	2.7	0.02 (0.0%)

10% Yield On FNX Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 17	106.00	0.70	17	4.1	0.02 (0.0%)
Jul 19	106.00	2.60	80	3.3	0.02 (0.0%)

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Top 10 Open Interest For May 17 Expiration				Top 5 High Yield
1.	IWM dividend	6.	EEM dividend	1.	WOLF dividend
2.	QQQ dividend	7.	KWEB dividend	2.	FSLY dividend
3.	HYG dividend	8.	TSLA dividend	3.	ENVX dividend
4.	SPY dividend	9.	SLV dividend	4.	COIN dividend
5.	FXI dividend	10.	AMZN dividend	5.	DASH dividend

Want more examples? FNV Dividend | FNY Dividend