EXAS Dividend Type Payments

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

Exact Sciences Corporation (EXAS)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
52.81	53.37	71.51	+0.38	2.2M	-	13B

EXAS Dividend-Like Income Using Covered Calls

With EXAS at 71.51, 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%	2.15	0.6
5%	3.58	1.0
10%	7.15	2.0

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 EXAS Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Nov 15	55.00	16.20	11	147.3	1.63 (2.3%)
Dec 20	100.00	0.45	46	1.0	46.63 (65.2%)

5% Yield On EXAS Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Nov 15	55.00	16.20	11	147.3	1.63 (2.3%)
Dec 20	55.00	16.70	46	36.3	1.63 (2.3%)

10% Yield On EXAS Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Nov 15	55.00	16.20	11	147.3	1.63 (2.3%)
Dec 20	55.00	16.70	46	36.3	1.63 (2.3%)

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Want more examples? EWZS Dividend | EXC Dividend