GOEV Dividend Type Payments
Although GOEV has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Canoo 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 Wed 4:16 PM ET):
Canoo Inc. - Class A (GOEV) |
Bid |
Ask |
Last |
Change |
Volume |
P/E |
Market Cap |
2.79 |
2.81 |
2.79 |
-0.09 |
2.0M |
- |
2.1B |
GOEV Dividend-Like Income Using Covered Calls
With GOEV at 2.79, 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% |
0.08 |
0.0 |
5% |
0.14 |
0.0 |
10% |
0.28 |
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:
3% Yield On GOEV Using Covered Calls |
Expiration |
Strike |
Call Bid |
Days |
Cents/Day |
Upside Potential |
Nov 15 |
3.00 |
0.68 |
199 |
0.3 |
0.19 (6.8%) |
Aug 16 |
3.00 |
0.25 |
108 |
0.2 |
0.19 (6.8%) |
5% Yield On GOEV Using Covered Calls |
Expiration |
Strike |
Call Bid |
Days |
Cents/Day |
Upside Potential |
Nov 15 |
3.00 |
0.68 |
199 |
0.3 |
0.19 (6.8%) |
Aug 16 |
3.00 |
0.25 |
108 |
0.2 |
0.19 (6.8%) |
10% Yield On GOEV Using Covered Calls |
Expiration |
Strike |
Call Bid |
Days |
Cents/Day |
Upside Potential |
Nov 15 |
3.00 |
0.68 |
199 |
0.3 |
0.19 (6.8%) |
Aug 16 |
3.00 |
0.25 |
108 |
0.2 |
0.19 (6.8%) |
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