OPY Dividend Type Payments
Although OPY has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Oppenheimer Holdings, Inc. Class A (DE) to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 1:55 PM ET):
| Oppenheimer Holdings, Inc. Class A (DE) (OPY) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 68.97 | 69.85 | 69.22 | -0.58 | 32K | 9.1 | 0.7B |
OPY Dividend-Like Income Using Covered Calls
With OPY at 69.22, 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% | 2.08 | 0.6 |
| 5% | 3.46 | 0.9 |
| 10% | 6.92 | 1.9 |
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 OPY Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Dec 19 | 70.00 | 1.60 | 52 | 3.1 | 0.15 (0.2%) | |
| Nov 21 | 70.00 | 1.20 | 24 | 5.0 | 0.15 (0.2%) | |
| 5% Yield On OPY Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Dec 19 | 70.00 | 1.60 | 52 | 3.1 | 0.15 (0.2%) | |
| Nov 21 | 70.00 | 1.20 | 24 | 5.0 | 0.15 (0.2%) | |
| 10% Yield On OPY Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Dec 19 | 70.00 | 1.60 | 52 | 3.1 | 0.15 (0.2%) | |
| Nov 21 | 70.00 | 1.20 | 24 | 5.0 | 0.15 (0.2%) | |
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| Top 10 Open Interest For Nov 21 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | IBIT dividend | 6. | INTC dividend | 1. | ALGN dividend | |
| 2. | KVUE dividend | 7. | TLT dividend | 2. | GHRS dividend | |
| 3. | NVDA dividend | 8. | EEM dividend | 3. | IREN dividend | |
| 4. | SLV dividend | 9. | HYG dividend | 4. | ENVX dividend | |
| 5. | GLD dividend | 10. | QQQ dividend | 5. | RXRX dividend | |
Want more examples? OPTT Dividend | OR Dividend
