TYO Dividend Type Payments

Although TYO has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Direxion Daily 10-Yr Treasury Bear 3x Shrs to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 11:35 AM ET):

Direxion Daily 10-Yr Treasury Bear 3x Shrs (TYO)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
13.35	13.39	13.36	+0.02	1K	-	0.0B

TYO Dividend-Like Income Using Covered Calls

With TYO at 13.36, 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%	0.40	0.1
5%	0.67	0.2
10%	1.34	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 TYO Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Nov 21	14.00	0.30	108	0.3	0.61 (4.6%)
Feb 20	14.00	0.55	199	0.3	0.61 (4.6%)

5% Yield On TYO Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Nov 21	14.00	0.30	108	0.3	0.61 (4.6%)
Feb 20	14.00	0.55	199	0.3	0.61 (4.6%)

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Want more examples? TYL Dividend | TZA Dividend