OXSQ Dividend
Although OXSQ has a dividend of 0.04 with an ex-dividend date of Jul 17, you can sell covered calls on Oxford Square Capital Corp. - Closed End Fund 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):
| Oxford Square Capital Corp. - Closed End Fund (OXSQ) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 2.22 | 2.25 | 2.23 | 0.00 | 659K | 223 | 0.2B |
OXSQ Dividend-Like Income Using Covered Calls
With OXSQ at 2.23, 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% | 0.07 | 0.0 |
| 5% | 0.11 | 0.0 |
| 10% | 0.22 | 0.1 |
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 OXSQ Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Feb 20 | 2.50 | 0.05 | 235 | 0.0 | 0.25 (11.2%) | |
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| Top 10 Open Interest For Jul 18 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | GLD dividend | 1. | COGT dividend | |
| 2. | SLV dividend | 7. | AAPL dividend | 2. | STZ dividend | |
| 3. | SPY dividend | 8. | TLT dividend | 3. | IREN dividend | |
| 4. | IWM dividend | 9. | FXI dividend | 4. | CIFR dividend | |
| 5. | TSLA dividend | 10. | QQQ dividend | 5. | IONQ dividend | |
Want more examples? OXM Dividend | OXY Dividend
