LPX Dividend Type Payments

Although LPX has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Louisiana-Pacific Corporation 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):

Louisiana-Pacific Corporation (LPX)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
85.00	95.92	90.76	+0.38	673K	21	6.3B

LPX Dividend-Like Income Using Covered Calls

With LPX at 90.76, 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%	2.72	0.7
5%	4.54	1.2
10%	9.08	2.5

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 LPX Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	100.00	1.70	58	2.9	4.08 (4.5%)
Nov 21	100.00	0.35	30	1.2	4.08 (4.5%)

5% Yield On LPX Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	100.00	1.70	58	2.9	4.08 (4.5%)
May 15	100.00	6.30	205	3.1	4.08 (4.5%)

10% Yield On LPX Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	100.00	1.70	58	2.9	4.08 (4.5%)
May 15	100.00	6.30	205	3.1	4.08 (4.5%)

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