OPY Dividend Type Payments

Oppenheimer Holdings, Inc. Class A (DE) dividend

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 4:16 PM ET):

Oppenheimer Holdings, Inc. Class A (DE) (OPY)
Bid Ask Last Change Volume P/E Market Cap
68.70 74.74 72.57 -0.02 105K 9.4 0.8B

OPY Dividend-Like Income Using Covered Calls

With OPY at 72.57, 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% 2.18 0.6
5% 3.63 1.0
10% 7.26 2.0

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
Oct 17 75.00 0.70 38 1.8 0.26 (0.4%)
Dec 19 75.00 1.50 101 1.5 0.26 (0.4%)
5% Yield On OPY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Oct 17 75.00 0.70 38 1.8 0.26 (0.4%)
Dec 19 75.00 1.50 101 1.5 0.26 (0.4%)
10% Yield On OPY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Mar 20 75.00 4.40 192 2.3 0.26 (0.4%)

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