NE Dividend

Although NE has a dividend of 0.50 with an ex-dividend date of Sep 4, you can sell covered calls on Noble Corporation plc A Ordinary Shares to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 11:10 AM ET):

Noble Corporation plc A Ordinary Shares (NE)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
26.68	26.70	26.69	-0.09	358K	14	4.3B

NE Dividend-Like Income Using Covered Calls

With NE at 26.69, 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%	0.80	0.2
5%	1.33	0.4
10%	2.67	0.7

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 NE Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	27.50	0.25	5	5.0	0.80 (3.0%)
Sep 19	27.50	0.95	40	2.4	0.80 (3.0%)

5% Yield On NE Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	27.50	0.25	5	5.0	0.80 (3.0%)
Sep 19	27.50	0.95	40	2.4	0.80 (3.0%)

10% Yield On NE Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	27.50	0.25	5	5.0	0.80 (3.0%)
Sep 19	27.50	0.95	40	2.4	0.80 (3.0%)

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