SPDN Dividend Type Payments

Although SPDN has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Direxion Daily S&P 500 Bear 1X Shares to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 4:16 PM ET):

Direxion Daily S&P 500 Bear 1X Shares (SPDN)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
11.49	11.51	11.54	0.00	10.8M	-	0.1B

SPDN Dividend-Like Income Using Covered Calls

With SPDN at 11.54, 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%	0.35	0.1
5%	0.58	0.2
10%	1.15	0.3

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 SPDN Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	12.00	0.05	17	0.3	0.49 (4.2%)
Oct 17	12.00	0.25	171	0.1	0.49 (4.2%)

5% Yield On SPDN Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	12.00	0.05	17	0.3	0.49 (4.2%)
Jul 18	12.00	0.20	80	0.3	0.49 (4.2%)

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Want more examples? SPD Dividend | SPDV Dividend