SPG Dividend Type Payments

Although SPG has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Simon Property Group, Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 4:16 PM ET):

Simon Property Group, Inc. (SPG)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
156.25	160.00	157.86	+0.96	1.7M	25	51B

SPG Dividend-Like Income Using Covered Calls

With SPG at 157.86, 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%	4.74	1.3
5%	7.89	2.2
10%	15.79	4.3

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 SPG Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	160.00	7.90	124	6.4	0.00 (0.0%)
Jul 18	160.00	3.50	33	10.6	0.00 (0.0%)

5% Yield On SPG Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	160.00	7.90	124	6.4	0.00 (0.0%)
Jul 18	160.00	3.50	33	10.6	0.00 (0.0%)

10% Yield On SPG Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	160.00	7.90	124	6.4	0.00 (0.0%)
Jul 18	160.00	3.50	33	10.6	0.00 (0.0%)

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