ORA Dividend Type Payments

Although ORA has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Ormat Technologies, Inc. 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):

Ormat Technologies, Inc. (ORA)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
89.50	92.50	90.26	-0.36	378K	42	5.5B

ORA Dividend-Like Income Using Covered Calls

With ORA at 90.26, 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%	2.71	0.7
5%	4.51	1.2
10%	9.03	2.5

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 ORA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	95.00	0.60	39	1.5	2.50 (2.8%)
Sep 19	95.00	0.10	11	0.9	2.50 (2.8%)

5% Yield On ORA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	95.00	0.60	39	1.5	2.50 (2.8%)
Dec 19	95.00	2.70	102	2.6	2.50 (2.8%)

10% Yield On ORA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	95.00	2.70	102	2.6	2.50 (2.8%)
May 15	95.00	6.60	249	2.7	2.50 (2.8%)

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Top 10 Open Interest For Sep 19 Expiration				Top 5 High Yield
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3.	IWM dividend	8.	SLV dividend	3.	ADBE dividend
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5.	EEM dividend	10.	TSLA dividend	5.	BE dividend

Want more examples? OR Dividend | ORC Dividend