WFC Dividend

Although WFC has a dividend of 0.45 with an ex-dividend date of Nov 7, you can sell covered calls on Wells Fargo & Company 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):

Wells Fargo & Company (WFC)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
87.15	87.45	87.30	+0.33	12.5M	15	279B

WFC Dividend-Like Income Using Covered Calls

With WFC at 87.30, 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%	2.62	0.7
5%	4.37	1.2
10%	8.73	2.4

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 WFC Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 5	88.00	2.35	33	7.1	0.55 (0.6%)
Nov 7	88.00	0.68	5	13.6	0.55 (0.6%)

5% Yield On WFC Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 5	88.00	2.35	33	7.1	0.55 (0.6%)
Nov 7	88.00	0.68	5	13.6	0.55 (0.6%)

10% Yield On WFC Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 5	88.00	2.35	33	7.1	0.55 (0.6%)
Nov 7	88.00	0.68	5	13.6	0.55 (0.6%)

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