SOCL Dividend Type Payments
Although SOCL has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Global X Social Media ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 2:40 PM ET):
| Global X Social Media ETF (SOCL) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 50.85 | 50.90 | 50.90 | +1.38 | 17K | - | 0.2B |
SOCL Dividend-Like Income Using Covered Calls
With SOCL at 50.90, 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% | 1.53 | 0.4 |
| 5% | 2.55 | 0.7 |
| 10% | 5.09 | 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:
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| Top 10 Open Interest For Jun 20 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | SLV dividend | 1. | DYN dividend | |
| 2. | SPY dividend | 7. | IWM dividend | 2. | CAPR dividend | |
| 3. | QQQ dividend | 8. | TLT dividend | 3. | ALT dividend | |
| 4. | TSLA dividend | 9. | AAPL dividend | 4. | GES dividend | |
| 5. | GLD dividend | 10. | INTC dividend | 5. | RUN dividend | |
Want more examples? SO Dividend | SOHU Dividend
