OLP Dividend
Although OLP has a dividend of 0.45 with an ex-dividend date of Sep 24, you can sell covered calls on One Liberty Properties, Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 4:16 PM ET):
| One Liberty Properties, Inc. (OLP) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 22.75 | 23.42 | 22.79 | -0.26 | 64K | 18 | 0.5B |
OLP Dividend-Like Income Using Covered Calls
With OLP at 22.79, 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% | 0.68 | 0.2 |
| 5% | 1.14 | 0.3 |
| 10% | 2.28 | 0.6 |
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:
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| Top 10 Open Interest For Sep 19 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | EEM dividend | 1. | QURE dividend | |
| 2. | SPY dividend | 7. | QQQ dividend | 2. | OPEN dividend | |
| 3. | PCG dividend | 8. | IWM dividend | 3. | LDI dividend | |
| 4. | TSLA dividend | 9. | SLV dividend | 4. | MANU dividend | |
| 5. | IBIT dividend | 10. | FXI dividend | 5. | CBRL dividend | |
Want more examples? OLO Dividend | OMC Dividend
