GMED Dividend Type Payments
Although GMED has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Globus Medical, Inc. Class A to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 4:16 PM ET):
| Globus Medical, Inc. Class A (GMED) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 57.56 | 63.14 | 60.57 | +0.55 | 1.3M | 23 | 8.1B |
GMED Dividend-Like Income Using Covered Calls
With GMED at 60.57, 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% | 1.82 | 0.5 |
| 5% | 3.03 | 0.8 |
| 10% | 6.06 | 1.7 |
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 GMED Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Oct 17 | 65.00 | 0.95 | 64 | 1.5 | 1.86 (3.1%) | |
| Sep 19 | 65.00 | 0.65 | 36 | 1.8 | 1.86 (3.1%) | |
| 5% Yield On GMED Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Oct 17 | 65.00 | 0.95 | 64 | 1.5 | 1.86 (3.1%) | |
| Sep 19 | 65.00 | 0.65 | 36 | 1.8 | 1.86 (3.1%) | |
| 10% Yield On GMED Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Sep 19 | 65.00 | 0.65 | 36 | 1.8 | 1.86 (3.1%) | |
| Dec 19 | 65.00 | 2.80 | 127 | 2.2 | 1.86 (3.1%) | |
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| Top 10 Open Interest For Sep 19 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | SLV dividend | 1. | ATYR dividend | |
| 2. | PCG dividend | 7. | FXI dividend | 2. | IREN dividend | |
| 3. | IWM dividend | 8. | QQQ dividend | 3. | KSS dividend | |
| 4. | EEM dividend | 9. | IBIT dividend | 4. | VKTX dividend | |
| 5. | SPY dividend | 10. | KWEB dividend | 5. | BBAI dividend | |
Want more examples? GME Dividend | GMF Dividend
