ROCK Dividend Type Payments
Although ROCK has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Gibraltar Industries, Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 11:10 AM ET):
| Gibraltar Industries, Inc. (ROCK) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 71.87 | 72.17 | 71.99 | +0.88 | 16K | 20 | 2.2B |
ROCK Dividend-Like Income Using Covered Calls
With ROCK at 71.99, 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% | 2.16 | 0.6 |
| 5% | 3.60 | 1.0 |
| 10% | 7.20 | 2.0 |
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 ROCK Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| May 17 | 75.00 | 1.50 | 22 | 6.8 | 2.83 (3.9%) | |
| Jun 21 | 75.00 | 2.45 | 57 | 4.3 | 2.83 (3.9%) | |
| 5% Yield On ROCK Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| May 17 | 75.00 | 1.50 | 22 | 6.8 | 2.83 (3.9%) | |
| Jun 21 | 75.00 | 2.45 | 57 | 4.3 | 2.83 (3.9%) | |
| 10% Yield On ROCK Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| May 17 | 75.00 | 1.50 | 22 | 6.8 | 2.83 (3.9%) | |
| Jun 21 | 75.00 | 2.45 | 57 | 4.3 | 2.83 (3.9%) | |
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| Top 10 Open Interest For May 17 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | IWM dividend | 6. | EEM dividend | 1. | ENVX dividend | |
| 2. | HYG dividend | 7. | KWEB dividend | 2. | WOLF dividend | |
| 3. | QQQ dividend | 8. | SLV dividend | 3. | FSLY dividend | |
| 4. | SPY dividend | 9. | TSLA dividend | 4. | CGC dividend | |
| 5. | FXI dividend | 10. | NVDA dividend | 5. | DJT dividend | |
Want more examples? ROBO Dividend | RODM Dividend
