BHR Dividend

Although BHR has a dividend of 0.05 with an ex-dividend date of Dec 31, you can sell covered calls on Braemar Hotels & Resorts Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 2:05 PM ET):

Braemar Hotels & Resorts Inc. (BHR)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
2.62	2.63	2.62	0.00	74K	-	0.2B

BHR Dividend-Like Income Using Covered Calls

With BHR at 2.62, 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%	0.08	0.0
5%	0.13	0.0
10%	0.26	0.1

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 BHR Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	5.00	0.10	171	0.1	2.37 (90.5%)

5% Yield On BHR Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	5.00	0.10	171	0.1	2.37 (90.5%)

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