BIIB Dividend Type Payments

BIOGEN INC COMMON dividend

Although BIIB has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on BIOGEN INC COMMON to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 4:16 PM ET):

BIOGEN INC COMMON (BIIB)
Bid Ask Last Change Volume P/E Market Cap
332.91 344.65 338.23 -0.38 745K 24 66B

BIIB Dividend-Like Income Using Covered Calls

With BIIB at 338.23, here's a table showing how big the annual "dividend" (ie. 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% 10.15 2.8
5% 16.91 4.6
10% 33.82 9.3

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 BIIB Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Oct 19 350.00 0.15 3 5.0 5.35 (1.6%)
Oct 26 390.00 0.30 10 3.0 45.35 (13.4%)
5% Yield On BIIB Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Oct 19 350.00 0.15 3 5.0 5.35 (1.6%)
Oct 26 385.00 0.50 10 5.0 40.35 (11.9%)
10% Yield On BIIB Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Oct 19 347.50 0.30 3 10.0 2.85 (0.8%)
Oct 26 372.50 1.25 10 12.5 27.85 (8.2%)

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Top 10 Open Interest For Oct 19 Expiration     Top 5 High Yield
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Want more examples? BIG Dividend | BIL Dividend