BMRN Dividend Type Payments

Although BMRN has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on BioMarin Pharmaceutical Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 2:55 PM ET):

BioMarin Pharmaceutical Inc. (BMRN)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
65.36	65.48	65.35	-1.84	511K	41	13B

BMRN Dividend-Like Income Using Covered Calls

With BMRN at 65.35, 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%	1.96	0.5
5%	3.27	0.9
10%	6.54	1.8

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 BMRN Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 20	67.50	0.05	3	1.7	2.02 (3.1%)
Jan 17	67.50	1.60	31	5.2	2.02 (3.1%)

5% Yield On BMRN Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 20	67.50	0.05	3	1.7	2.02 (3.1%)
Jan 17	67.50	1.60	31	5.2	2.02 (3.1%)

10% Yield On BMRN Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 17	67.50	1.60	31	5.2	2.02 (3.1%)
Apr 17	67.50	4.40	121	3.6	2.02 (3.1%)

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Top 10 Open Interest For Dec 20 Expiration				Top 5 High Yield
1.	NVDA dividend	6.	EEM dividend	1.	QBTS dividend
2.	SPY dividend	7.	IWM dividend	2.	RGTI dividend
3.	XLF dividend	8.	KWEB dividend	3.	SERV dividend
4.	QQQ dividend	9.	TLT dividend	4.	FDX dividend
5.	FXI dividend	10.	TSLA dividend	5.	SEDG dividend

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