JPNL Dividend Type Payments

Although JPNL has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Direxion Daily Japan Bull 3X ETF 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):

Direxion Daily Japan Bull 3X ETF (JPNL)
Bid Ask Last Change Volume P/E Market Cap
49.44 51.11 50.46 -1.56 2K - 0.0B

JPNL Dividend-Like Income Using Covered Calls

With JPNL at 50.46, 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% 1.51 0.4
5% 2.52 0.7
10% 5.05 1.4

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 JPNL Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Apr 18 53.00 0.15 28 0.5 1.89 (3.7%)
May 17 53.00 1.10 57 1.9 1.89 (3.7%)
5% Yield On JPNL Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 17 53.00 1.10 57 1.9 1.89 (3.7%)
Jun 21 55.00 0.95 92 1.0 3.89 (7.7%)
10% Yield On JPNL Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 17 53.00 1.10 57 1.9 1.89 (3.7%)
Jun 21 54.00 1.30 92 1.4 2.89 (5.7%)

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Want more examples? JPN Dividend | JPSE Dividend