SJB Dividend Type Payments
Although SJB has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on ProShares Short High Yield to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 11:25 AM ET):
| ProShares Short High Yield (SJB) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 15.92 | 15.93 | 15.93 | 0.00 | 58K | - | 0.2B |
SJB Dividend-Like Income Using Covered Calls
With SJB at 15.93, 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% | 0.48 | 0.1 |
| 5% | 0.80 | 0.2 |
| 10% | 1.59 | 0.4 |
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 SJB Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Oct 17 | 16.00 | 0.25 | 158 | 0.2 | 0.07 (0.4%) | |
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| Top 10 Open Interest For May 16 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | IWM dividend | 1. | DOCS dividend | |
| 2. | SPY dividend | 7. | SLV dividend | 2. | GRAL dividend | |
| 3. | TLT dividend | 8. | FXI dividend | 3. | DLO dividend | |
| 4. | TSLA dividend | 9. | GLD dividend | 4. | CAVA dividend | |
| 5. | QQQ dividend | 10. | INTC dividend | 5. | ALT dividend | |
Want more examples? SIZE Dividend | SJM Dividend
