GLRE Dividend Type Payments
Although GLRE has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Greenlight Reinsurance, Ltd. - Class A Ordinary Shares to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 4:16 PM ET):
| Greenlight Reinsurance, Ltd. - Class A Ordinary Shares (GLRE) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 13.73 | 14.26 | 13.77 | +0.38 | 98K | 5.3 | 0.6B |
GLRE Dividend-Like Income Using Covered Calls
With GLRE at 13.77, 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% | 0.41 | 0.1 |
| 5% | 0.69 | 0.2 |
| 10% | 1.38 | 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 GLRE Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Aug 15 | 15.00 | 0.25 | 192 | 0.1 | 0.74 (5.4%) | |
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| Top 10 Open Interest For Feb 21 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | TSLA dividend | 1. | SYM dividend | |
| 2. | TLT dividend | 7. | QQQ dividend | 2. | BILL dividend | |
| 3. | SPY dividend | 8. | SLV dividend | 3. | AFRM dividend | |
| 4. | IWM dividend | 9. | GLD dividend | 4. | NET dividend | |
| 5. | FXI dividend | 10. | KWEB dividend | 5. | PINS dividend | |
Want more examples? GLPI Dividend | GLRY Dividend
