TBF Dividend Type Payments

Although TBF has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on ProShares Short 20+ Year Treasury to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 10:25 AM ET):

ProShares Short 20+ Year Treasury (TBF)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
23.68	23.69	23.69	+0.02	23K	-	0.2B

TBF Dividend-Like Income Using Covered Calls

With TBF at 23.69, 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%	0.71	0.2
5%	1.18	0.3
10%	2.37	0.6

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 TBF Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	24.00	0.15	32	0.5	0.31 (1.3%)
Dec 19	24.00	0.45	95	0.5	0.31 (1.3%)

5% Yield On TBF Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	24.00	0.15	32	0.5	0.31 (1.3%)
Dec 19	24.00	0.45	95	0.5	0.31 (1.3%)

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Top 10 Open Interest For Sep 19 Expiration				Top 5 High Yield
1.	NVDA dividend	6.	EEM dividend	1.	AIV dividend
2.	SPY dividend	7.	QQQ dividend	2.	QURE dividend
3.	PCG dividend	8.	IWM dividend	3.	AVDL dividend
4.	TSLA dividend	9.	SLV dividend	4.	OPEN dividend
5.	IBIT dividend	10.	FXI dividend	5.	CBRL dividend

Want more examples? TBBK Dividend | TBI Dividend