OPY Dividend

Oppenheimer Holdings, Inc. Class A (DE) dividend

Although OPY has a dividend of 1.00 with an ex-dividend date of Dec 26, you can sell covered calls on Oppenheimer Holdings, Inc. Class A (DE) to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 3:20 PM ET):

Oppenheimer Holdings, Inc. Class A (DE) (OPY)
Bid Ask Last Change Volume P/E Market Cap
72.51 72.98 72.95 -0.12 24K 10 0.8B

OPY Dividend-Like Income Using Covered Calls

With OPY at 72.95, 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% 2.19 0.6
5% 3.65 1.0
10% 7.30 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 OPY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Mar 20 75.00 2.15 96 2.2 2.02 (2.8%)
5% Yield On OPY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Mar 20 75.00 2.15 96 2.2 2.02 (2.8%)
10% Yield On OPY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Mar 20 75.00 2.15 96 2.2 2.02 (2.8%)

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