GLP Dividend
Although GLP has a dividend of 0.76 with an ex-dividend date of Nov 10, you can sell covered calls on Global Partners LP Global Partners LP Common Units representing Limited to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 4:16 PM ET):
| Global Partners LP Global Partners LP Common Units representing Limited (GLP) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 43.22 | 47.30 | 44.40 | -0.37 | 51K | 17 | 1.5B |
GLP Dividend-Like Income Using Covered Calls
With GLP at 44.40, 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% | 1.33 | 0.4 |
| 5% | 2.22 | 0.6 |
| 10% | 4.44 | 1.2 |
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 Nov 21 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | IBIT dividend | 6. | INTC dividend | 1. | PINS dividend | |
| 2. | KVUE dividend | 7. | TLT dividend | 2. | UPST dividend | |
| 3. | NVDA dividend | 8. | ASST dividend | 3. | SMR dividend | |
| 4. | SLV dividend | 9. | HYG dividend | 4. | SMCI dividend | |
| 5. | GLD dividend | 10. | EEM dividend | 5. | TTD dividend | |
Want more examples? GLOB Dividend | GLPG Dividend
