IMKTA Dividend
Although IMKTA has a dividend of 0.17 with an ex-dividend date of Jul 10, you can sell covered calls on Ingles Markets, Incorporated - Class A to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 4:16 PM ET):
| Ingles Markets, Incorporated - Class A (IMKTA) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 62.63 | 71.28 | 66.31 | -0.45 | 49K | 21 | 1.3B |
IMKTA Dividend-Like Income Using Covered Calls
With IMKTA at 66.31, 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% | 1.99 | 0.5 |
| 5% | 3.32 | 0.9 |
| 10% | 6.63 | 1.8 |
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 Jul 18 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | GLD dividend | 1. | QUBT dividend | |
| 2. | SLV dividend | 7. | AAPL dividend | 2. | COGT dividend | |
| 3. | SPY dividend | 8. | TLT dividend | 3. | IONQ dividend | |
| 4. | IWM dividend | 9. | IBIT dividend | 4. | TMC dividend | |
| 5. | TSLA dividend | 10. | QQQ dividend | 5. | SMMT dividend | |
Want more examples? IMAX Dividend | IMMR Dividend
