JPM Dividend

JP Morgan Chase & Co. dividend

Although JPM has a dividend of 1.25 with an ex-dividend date of Jan 6, you can sell covered calls on JP Morgan Chase & Co. 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):

JP Morgan Chase & Co. (JPM)
Bid Ask Last Change Volume P/E Market Cap
230.10 230.81 230.37 -7.99 10.6M 13 671B

JPM Dividend-Like Income Using Covered Calls

With JPM at 230.37, 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% 6.91 1.9
5% 11.52 3.2
10% 23.04 6.3

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 JPM Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 20 230.00 2.30 3 49.7 0.00 (0.0%)
Dec 27 230.00 3.60 10 27.9 0.00 (0.0%)
5% Yield On JPM Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 20 230.00 2.30 3 49.7 0.00 (0.0%)
Dec 27 230.00 3.60 10 27.9 0.00 (0.0%)
10% Yield On JPM Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 20 230.00 2.30 3 49.7 0.00 (0.0%)
Dec 27 230.00 3.60 10 27.9 0.00 (0.0%)

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Want more examples? JPIN Dividend | JPMB Dividend