PRTA Dividend Type Payments

Although PRTA has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Prothena Corporation plc - Ordinary Shares to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 4:16 PM ET):

Prothena Corporation plc - Ordinary Shares (PRTA)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
8.42	8.53	8.50	-0.22	5.5M	-	0.5B

PRTA Dividend-Like Income Using Covered Calls

With PRTA at 8.50, 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%	0.26	0.1
5%	0.43	0.1
10%	0.85	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:

3% Yield On PRTA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	10.00	0.55	15	3.7	1.47 (17.3%)
Sep 19	10.00	2.80	141	2.0	1.47 (17.3%)

5% Yield On PRTA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	10.00	0.55	15	3.7	1.47 (17.3%)
Sep 19	10.00	2.80	141	2.0	1.47 (17.3%)

10% Yield On PRTA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	10.00	0.55	15	3.7	1.47 (17.3%)
Sep 19	10.00	2.80	141	2.0	1.47 (17.3%)

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