SPHQ Dividend Type Payments

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

Invesco S&P 500 Quality ETF (SPHQ)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
70.28	71.33	70.81	-0.57	1.7M	-	3.2B

SPHQ Dividend-Like Income Using Covered Calls

With SPHQ at 70.81, 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%	2.12	0.6
5%	3.54	1.0
10%	7.08	1.9

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 SPHQ Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	71.00	1.30	78	1.2	0.00 (0.0%)
Jan 16	71.00	1.50	169	0.7	0.00 (0.0%)

5% Yield On SPHQ Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	71.00	1.30	78	1.2	0.00 (0.0%)

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Want more examples? SPHD Dividend | SPHY Dividend