IJT Dividend Type Payments

iShares S&P SmallCap 600 Growth ETF dividend

Although IJT has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on iShares S&P SmallCap 600 Growth ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 4:16 PM ET):

iShares S&P SmallCap 600 Growth ETF (IJT)
Bid Ask Last Change Volume P/E Market Cap
116.78 128.56 121.57 -0.27 96K - 5.4B

IJT Dividend-Like Income Using Covered Calls

With IJT at 121.57, 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% 3.65 1.0
5% 6.08 1.7
10% 12.16 3.3

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 IJT Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jul 19 128.00 1.85 93 1.4 0.00 (0.0%)
Oct 18 128.00 4.20 184 2.0 0.00 (0.0%)
5% Yield On IJT Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jul 19 129.00 1.70 93 1.8 0.44 (0.4%)
Oct 18 128.00 4.20 184 2.0 0.00 (0.0%)

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