PKOH Dividend
Although PKOH has a dividend of 0.13 with an ex-dividend date of Nov 14, you can sell covered calls on Park-Ohio Holdings Corp. 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):
| Park-Ohio Holdings Corp. (PKOH) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 19.35 | 32.00 | 21.07 | +1.16 | 19K | 10 | 0.3B |
PKOH Dividend-Like Income Using Covered Calls
With PKOH at 21.07, 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% | 0.63 | 0.2 |
| 5% | 1.05 | 0.3 |
| 10% | 2.11 | 0.6 |
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:
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| Top 10 Open Interest For Nov 21 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | IBIT dividend | 6. | TLT dividend | 1. | LYFT dividend | |
| 2. | KVUE dividend | 7. | INTC dividend | 2. | LCID dividend | |
| 3. | NVDA dividend | 8. | ASST dividend | 3. | SOUN dividend | |
| 4. | SLV dividend | 9. | HYG dividend | 4. | TTD dividend | |
| 5. | GLD dividend | 10. | SPY dividend | 5. | CELH dividend | |
Want more examples? PKG Dividend | PKW Dividend
