GLL Dividend Type Payments

Although GLL has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on PROSHARES ULTRA-SHORT GOLD to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 4:16 PM ET):

PROSHARES ULTRA-SHORT GOLD (GLL)
Bid Ask Last Change Volume P/E Market Cap
79.04 79.09 79.17 -0.01 3K - 0.3B

GLL Dividend-Like Income Using Covered Calls

With GLL at 79.17, 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% 2.38 0.7
5% 3.96 1.1
10% 7.92 2.2

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 GLL Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Nov 16 85.00 0.25 29 0.9 5.91 (7.5%)
Dec 21 87.00 0.45 64 0.7 7.91 (10.0%)
5% Yield On GLL Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Nov 16 84.00 0.35 29 1.2 4.91 (6.2%)
Dec 21 85.00 0.75 64 1.2 5.91 (7.5%)
10% Yield On GLL Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Nov 16 82.00 0.70 29 2.4 2.91 (3.7%)
Dec 21 82.00 1.50 64 2.3 2.91 (3.7%)

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