SXC Dividend Type Payments
Although SXC has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on SunCoke Energy, Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 11:25 AM ET):
| SunCoke Energy, Inc. (SXC) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 7.80 | 7.81 | 7.80 | -0.14 | 244K | 9.4 | 0.7B |
SXC Dividend-Like Income Using Covered Calls
With SXC at 7.80, 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% | 0.23 | 0.1 |
| 5% | 0.39 | 0.1 |
| 10% | 0.78 | 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 SXC Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Dec 19 | 10.00 | 0.05 | 51 | 0.1 | 2.19 (28.1%) | |
| Mar 20 | 10.00 | 0.15 | 142 | 0.1 | 2.19 (28.1%) | |
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| Top 10 Open Interest For Nov 21 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | IBIT dividend | 6. | INTC dividend | 1. | GHRS dividend | |
| 2. | KVUE dividend | 7. | TLT dividend | 2. | SOUN dividend | |
| 3. | NVDA dividend | 8. | HYG dividend | 3. | IREN dividend | |
| 4. | SLV dividend | 9. | EEM dividend | 4. | ENVX dividend | |
| 5. | GLD dividend | 10. | ASST dividend | 5. | TERN dividend | |
Want more examples? SWX Dividend | SXI Dividend
