GSM Dividend

Although GSM has a dividend of 0.01 with an ex-dividend date of Mar 20, you can sell covered calls on Ferroglobe PLC - Ordinary 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):

Ferroglobe PLC - Ordinary Shares (GSM)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
3.50	3.64	3.48	-0.15	1.4M	17	0.6B

GSM Dividend-Like Income Using Covered Calls

With GSM at 3.48, 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%	0.10	0.0
5%	0.17	0.0
10%	0.35	0.1

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 GSM Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Sep 19	4.00	0.25	211	0.1	0.36 (10.3%)
Jun 20	4.00	0.15	120	0.1	0.36 (10.3%)

5% Yield On GSM Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Sep 19	4.00	0.25	211	0.1	0.36 (10.3%)
Jun 20	4.00	0.15	120	0.1	0.36 (10.3%)

10% Yield On GSM Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Sep 19	4.00	0.25	211	0.1	0.36 (10.3%)
Jun 20	4.00	0.15	120	0.1	0.36 (10.3%)

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