CIO Dividend
Although CIO has a dividend of 0.10 with an ex-dividend date of Jul 10, you can sell covered calls on City Office REIT, Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 10:20 AM ET):
| City Office REIT, Inc. (CIO) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 5.37 | 5.39 | 5.38 | +0.04 | 12K | - | 0.2B |
CIO Dividend-Like Income Using Covered Calls
With CIO at 5.38, 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% | 0.16 | 0.0 |
| 5% | 0.27 | 0.1 |
| 10% | 0.54 | 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:
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| Top 10 Open Interest For Jul 18 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | GLD dividend | 1. | COGT dividend | |
| 2. | SLV dividend | 7. | AAPL dividend | 2. | ENVX dividend | |
| 3. | SPY dividend | 8. | TLT dividend | 3. | CIFR dividend | |
| 4. | IWM dividend | 9. | FXI dividend | 4. | STZ dividend | |
| 5. | TSLA dividend | 10. | QQQ dividend | 5. | JOBY dividend | |
Want more examples? CINF Dividend | CIVB Dividend
