CLF Dividend Type Payments

Cleveland-Cliffs Inc. dividend

Although CLF has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Cleveland-Cliffs 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):

Cleveland-Cliffs Inc. (CLF)
Bid Ask Last Change Volume P/E Market Cap
12.34 12.36 12.31 -2.42 58.3M - 7.3B

CLF Dividend-Like Income Using Covered Calls

With CLF at 12.31, 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% 0.37 0.1
5% 0.62 0.2
10% 1.23 0.3

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 CLF Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Feb 13 12.50 0.22 5 4.4 0.14 (1.1%)
Feb 20 12.50 0.46 12 3.8 0.14 (1.1%)
5% Yield On CLF Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Feb 13 12.50 0.22 5 4.4 0.14 (1.1%)
Feb 20 12.50 0.46 12 3.8 0.14 (1.1%)
10% Yield On CLF Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Feb 13 12.50 0.22 5 4.4 0.14 (1.1%)
Feb 20 12.50 0.46 12 3.8 0.14 (1.1%)

Want to increase dividends with covered calls?  Sign Up For A Free Trial

 
 
Top 10 Open Interest For Feb 20 Expiration     Top 5 High Yield
1.SLV dividend 6.QQQ dividend   1.OCUL dividend
2.NVDA dividend 7.SPY dividend   2.UPWK dividend
3.KWEB dividend 8.EWZ dividend   3.PINS dividend
4.IBIT dividend 9.TLT dividend   4.NET dividend
5.GLD dividend 10.CORZ dividend   5.APLD dividend

Want more examples? CLDX Dividend | CLFD Dividend