OC Dividend

Although OC has a dividend of 0.69 with an ex-dividend date of Jan 6, you can sell covered calls on Owens Corning Inc New to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 4:16 PM ET):

Owens Corning Inc New (OC)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
162.05	195.37	172.47	+1.38	433K	15	15B

OC Dividend-Like Income Using Covered Calls

With OC at 172.47, 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%	5.17	1.4
5%	8.62	2.4
10%	17.25	4.7

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 OC Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	195.00	8.30	233	3.4	0.00 (0.0%)
May 16	195.00	4.90	142	3.2	0.00 (0.0%)

5% Yield On OC Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	195.00	8.30	233	3.4	0.00 (0.0%)
May 16	195.00	4.90	142	3.2	0.00 (0.0%)

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Want more examples? OBOR Dividend | OCFC Dividend