GSL Dividend

Although GSL has a dividend of 0.45 with an ex-dividend date of Nov 22, you can sell covered calls on Global Ship Lease Inc New Class A Common Shares to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 4:16 PM ET):

Global Ship Lease Inc New Class A Common Shares (GSL)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
23.30	24.03	23.65	-0.17	312K	-	0.4B

GSL Dividend-Like Income Using Covered Calls

With GSL at 23.65, 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 GSL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 20	24.00	0.55	36	1.4	0.00 (0.0%)
Jan 17	24.00	0.80	64	1.2	0.00 (0.0%)

5% Yield On GSL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 20	24.00	0.55	36	1.4	0.00 (0.0%)
Jan 17	24.00	0.80	64	1.2	0.00 (0.0%)

10% Yield On GSL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 20	24.00	0.55	36	1.4	0.00 (0.0%)
Jan 17	24.00	0.80	64	1.2	0.00 (0.0%)

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