IDA Dividend

Although IDA has a dividend of 0.63 with an ex-dividend date of Nov 2, you can sell covered calls on IDACORP 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):

IDACORP (IDA)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
95.75	98.23	98.23	+1.36	296K	21	4.9B

IDA Dividend-Like Income Using Covered Calls

With IDA at 98.23, 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%	2.95	0.8
5%	4.91	1.3
10%	9.82	2.7

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 IDA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Nov 16	100.00	0.55	29	1.9	1.77 (1.8%)
Feb 15	100.00	1.70	120	1.4	1.77 (1.8%)

5% Yield On IDA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Nov 16	100.00	0.55	29	1.9	1.77 (1.8%)
Feb 15	100.00	1.70	120	1.4	1.77 (1.8%)

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Top 10 Open Interest For Nov 16 Expiration				Top 5 High Yield
1.	SPY dividend	6.	SPX dividend	1.	SNAP dividend
2.	EWZ dividend	7.	FXI dividend	2.	TWTR dividend
3.	EEM dividend	8.	VXX dividend	3.	AMRN dividend
4.	PBR dividend	9.	IWM dividend	4.	AMD dividend
5.	QQQ dividend	10.	BAC dividend	5.	UVXY dividend

Want more examples? ICUI Dividend | IDCC Dividend