JAZZ Dividend Type Payments

Although JAZZ has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Jazz Pharmaceuticals 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 Wed 4:16 PM ET):

Jazz Pharmaceuticals plc - Ordinary Shares (JAZZ)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
120.50	126.00	121.53	-0.10	482K	17	7.4B

JAZZ Dividend-Like Income Using Covered Calls

With JAZZ at 121.53, 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%	3.65	1.0
5%	6.08	1.7
10%	12.15	3.3

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 JAZZ Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Sep 19	130.00	7.10	227	3.1	4.00 (3.3%)
Dec 19	130.00	10.10	318	3.2	4.00 (3.3%)

5% Yield On JAZZ Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Sep 19	130.00	7.10	227	3.1	4.00 (3.3%)
Dec 19	130.00	10.10	318	3.2	4.00 (3.3%)

10% Yield On JAZZ Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Mar 21	130.00	1.50	45	3.3	4.00 (3.3%)

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