UBT Dividend Type Payments

Although UBT has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on ProShares Ultra 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 4:16 PM ET):

ProShares Ultra 20+ Year Treasury (UBT)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
16.25	16.73	16.53	+0.40	24K	-	0.0B

UBT Dividend-Like Income Using Covered Calls

With UBT at 16.53, 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%	0.50	0.1
5%	0.83	0.2
10%	1.65	0.5

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 UBT Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	17.00	0.70	123	0.6	0.27 (1.6%)
Jul 18	17.00	0.20	32	0.6	0.27 (1.6%)

5% Yield On UBT Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	17.00	0.70	123	0.6	0.27 (1.6%)
Jul 18	17.00	0.20	32	0.6	0.27 (1.6%)

10% Yield On UBT Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	17.00	0.70	123	0.6	0.27 (1.6%)
Jul 18	17.00	0.20	32	0.6	0.27 (1.6%)

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Want more examples? UBSI Dividend | UBX Dividend