NOBL Dividend Type Payments

Although NOBL has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on ProShares S&P 500 Dividend Aristocrats ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 3:35 PM ET):

ProShares S&P 500 Dividend Aristocrats ETF (NOBL)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
110.60	110.61	110.61	+0.64	680K	-	5.4B

NOBL Dividend-Like Income Using Covered Calls

With NOBL at 110.61, 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%	3.32	0.9
5%	5.53	1.5
10%	11.06	3.0

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 NOBL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jul 17	111.00	2.30	166	1.4	0.39 (0.4%)
Feb 20	111.00	0.60	19	3.2	0.39 (0.4%)

5% Yield On NOBL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Feb 20	111.00	0.60	19	3.2	0.39 (0.4%)
Mar 20	112.00	1.05	47	2.2	1.39 (1.3%)

10% Yield On NOBL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Feb 20	111.00	0.60	19	3.2	0.39 (0.4%)

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Want more examples? NOAH Dividend | NOC Dividend