SIL Dividend Type Payments

Global X Silver Miners ETF dividend

Although SIL has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Global X Silver Miners ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 1:20 PM ET):

Global X Silver Miners ETF (SIL)
Bid Ask Last Change Volume P/E Market Cap
48.26 48.28 48.27 +0.83 696K - 1.6B

SIL Dividend-Like Income Using Covered Calls

With SIL at 48.27, 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% 1.45 0.4
5% 2.41 0.7
10% 4.83 1.3

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 SIL Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 49.00 2.10 51 4.1 0.72 (1.5%)
Oct 17 49.00 3.50 114 3.1 0.72 (1.5%)
5% Yield On SIL Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 49.00 2.10 51 4.1 0.72 (1.5%)
Oct 17 49.00 3.50 114 3.1 0.72 (1.5%)
10% Yield On SIL Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 49.00 2.10 51 4.1 0.72 (1.5%)
Oct 17 49.00 3.50 114 3.1 0.72 (1.5%)

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