GLRE Dividend Type Payments
Although GLRE has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Greenlight Reinsurance, Ltd. - Class A Ordinary Shares to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 1:05 PM ET):
| Greenlight Reinsurance, Ltd. - Class A Ordinary Shares (GLRE) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 12.23 | 12.26 | 12.24 | +0.30 | 32K | - | 0.5B |
GLRE Dividend-Like Income Using Covered Calls
With GLRE at 12.24, 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% | 0.61 | 0.2 |
| 10% | 1.22 | 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:
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| Top 10 Open Interest For Nov 21 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | IBIT dividend | 6. | TLT dividend | 1. | TTD dividend | |
| 2. | KVUE dividend | 7. | INTC dividend | 2. | ENVX dividend | |
| 3. | NVDA dividend | 8. | ASST dividend | 3. | SOUN dividend | |
| 4. | SLV dividend | 9. | HYG dividend | 4. | SG dividend | |
| 5. | GLD dividend | 10. | SPY dividend | 5. | LCID dividend | |
Want more examples? GLPI Dividend | GLRY Dividend
