PROF Dividend Type Payments
Although PROF has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Profound Medical Corp. - common stock 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):
| Profound Medical Corp. - common stock (PROF) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 5.55 | 7.09 | 6.20 | +0.19 | 44K | - | 0.2B |
PROF Dividend-Like Income Using Covered Calls
With PROF at 6.20, 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% | 0.19 | 0.1 |
| 5% | 0.31 | 0.1 |
| 10% | 0.62 | 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:
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| Top 10 Open Interest For Jul 18 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | TSLA dividend | 1. | ALT dividend | |
| 2. | SLV dividend | 7. | IWM dividend | 2. | COGT dividend | |
| 3. | SPY dividend | 8. | AAPL dividend | 3. | BB dividend | |
| 4. | GLD dividend | 9. | FXI dividend | 4. | NVTS dividend | |
| 5. | TLT dividend | 10. | QQQ dividend | 5. | CELC dividend | |
Want more examples? PRO Dividend | PRPL Dividend
