ZBRA Dividend Type Payments
Although ZBRA has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Zebra Technologies Corp to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 4:16 PM ET):
| Zebra Technologies Corp (ZBRA) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 228.00 | 232.68 | 232.68 | +0.46 | 305K | 30 | 13B |
ZBRA Dividend-Like Income Using Covered Calls
With ZBRA at 232.68, here's a table showing how big the annual "dividend" (ie. 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% | 6.98 | 1.9 |
| 5% | 11.63 | 3.2 |
| 10% | 23.27 | 6.4 |
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 ZBRA Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| May 17 | 270.00 | 0.85 | 30 | 2.8 | 37.32 (16.0%) | |
| Aug 16 | 290.00 | 2.40 | 121 | 2.0 | 57.32 (24.6%) | |
| 5% Yield On ZBRA Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| May 17 | 260.00 | 1.90 | 30 | 6.3 | 27.32 (11.7%) | |
| Aug 16 | 270.00 | 5.40 | 121 | 4.5 | 37.32 (16.0%) | |
| 10% Yield On ZBRA Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| May 17 | 250.00 | 3.90 | 30 | 13.0 | 17.32 (7.4%) | |
| Aug 16 | 260.00 | 7.90 | 121 | 6.5 | 27.32 (11.7%) | |
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| Top 10 Open Interest For May 17 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | COTY dividend | 6. | BAC dividend | 1. | I dividend | |
| 2. | SPY dividend | 7. | QQQ dividend | 2. | SNAP dividend | |
| 3. | EEM dividend | 8. | EWZ dividend | 3. | BCRX dividend | |
| 4. | FXI dividend | 9. | XOP dividend | 4. | TWTR dividend | |
| 5. | SPX dividend | 10. | XLF dividend | 5. | TSLA dividend | |
Want more examples? ZBIO Dividend | ZEN Dividend
