MCRI Dividend

Although MCRI has a dividend of 0.30 with an ex-dividend date of Nov 29, you can sell covered calls on Monarch Casino & Resort, Inc. 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):

Monarch Casino & Resort, Inc. (MCRI)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
80.54	84.40	83.18	-0.36	66K	19	1.5B

MCRI Dividend-Like Income Using Covered Calls

With MCRI at 83.18, 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%	2.50	0.7
5%	4.16	1.1
10%	8.32	2.3

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 MCRI Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jun 20	85.00	3.10	218	1.4	0.60 (0.7%)
Mar 21	85.00	1.00	127	0.8	0.60 (0.7%)

5% Yield On MCRI Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jun 20	85.00	3.10	218	1.4	0.60 (0.7%)

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Want more examples? MCRB Dividend | MCS Dividend