NE Dividend

Although NE has a dividend of 0.50 with an ex-dividend date of Jun 5, 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 Tue 4:16 PM ET):

Noble Corporation plc A Ordinary Shares (NE)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
21.50	22.47	22.47	+1.47	6.4M	7.1	3.3B

NE Dividend-Like Income Using Covered Calls

With NE at 22.47, 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%	0.67	0.2
5%	1.12	0.3
10%	2.25	0.6

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
May 16	22.50	1.00	18	5.6	0.03 (0.1%)
Sep 19	22.50	2.55	144	1.8	0.03 (0.1%)

5% Yield On NE Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	22.50	1.00	18	5.6	0.03 (0.1%)
Sep 19	22.50	2.55	144	1.8	0.03 (0.1%)

10% Yield On NE Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	22.50	1.00	18	5.6	0.03 (0.1%)
Sep 19	22.50	2.55	144	1.8	0.03 (0.1%)

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