CJ Dividend Type Payments

Although CJ has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on C&J ENERGY SERVICES INC to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 11:15 AM ET):

C&J ENERGY SERVICES INC (CJ)
Bid Ask Last Change Volume P/E Market Cap
22.65 22.67 22.66 +0.47 84K 12 1.5B

CJ Dividend-Like Income Using Covered Calls

With CJ at 22.66, 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% 0.68 0.2
5% 1.13 0.3
10% 2.27 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:

3% Yield On CJ Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Sep 21 25.00 0.30 37 0.8 2.33 (10.3%)
Oct 19 25.00 0.30 65 0.5 2.33 (10.3%)
5% Yield On CJ Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Sep 21 25.00 0.30 37 0.8 2.33 (10.3%)
Oct 19 25.00 0.30 65 0.5 2.33 (10.3%)
10% Yield On CJ Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Sep 21 25.00 0.30 37 0.8 2.33 (10.3%)

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