OXSQ Dividend
Although OXSQ has a dividend of 0.20 with an ex-dividend date of Sep 13, you can sell covered calls on OXFORD SQUARE CAPITAL CORP COMMON 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 COMMON (OXSQ) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 7.01 | 7.39 | 7.16 | +0.05 | 81K | 8.9 | 0.4B |
OXSQ Dividend-Like Income Using Covered Calls
With OXSQ at 7.16, here's a table showing how big the annual "dividend" (ie. 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% | 0.21 | 0.1 |
| 5% | 0.36 | 0.1 |
| 10% | 0.72 | 0.2 |
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:
Want to increase dividends with covered calls? Sign Up For A Free Trial
| Top 10 Open Interest For Aug 17 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | SPY dividend | 6. | BAC dividend | 1. | M dividend | |
| 2. | EEM dividend | 7. | AABA dividend | 2. | UVXY dividend | |
| 3. | QQQ dividend | 8. | FXI dividend | 3. | JWN dividend | |
| 4. | SPX dividend | 9. | FB dividend | 4. | CGC dividend | |
| 5. | XLF dividend | 10. | GLD dividend | 5. | A dividend | |
Want more examples? OXM Dividend | OXY Dividend
