OPY Dividend Type Payments

Oppenheimer Holdings, Inc. Class A (DE) dividend

Although OPY has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Oppenheimer Holdings, Inc. Class A (DE) 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):

Oppenheimer Holdings, Inc. Class A (DE) (OPY)
Bid Ask Last Change Volume P/E Market Cap
57.89 61.63 59.93 +0.10 30K 9.3 0.6B

OPY Dividend-Like Income Using Covered Calls

With OPY at 59.93, 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% 1.80 0.5
5% 3.00 0.8
10% 5.99 1.6

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:

3% Yield On OPY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jun 20 65.00 3.60 218 1.7 3.37 (5.6%)
Mar 21 65.00 1.10 127 0.9 3.37 (5.6%)
5% Yield On OPY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jun 20 65.00 3.60 218 1.7 3.37 (5.6%)
Mar 21 65.00 1.10 127 0.9 3.37 (5.6%)
10% Yield On OPY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jun 20 65.00 3.60 218 1.7 3.37 (5.6%)

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