PGR Dividend Type Payments
Although PGR has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Progressive Corporation (The) to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 2:05 PM ET):
| Progressive Corporation (The) (PGR) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 265.28 | 265.40 | 265.37 | -1.06 | 1.2M | 18 | 156B |
PGR Dividend-Like Income Using Covered Calls
With PGR at 265.37, 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% | 7.96 | 2.2 |
| 5% | 13.27 | 3.6 |
| 10% | 26.54 | 7.3 |
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 PGR Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Jul 3 | 265.00 | 6.40 | 17 | 35.3 | 0.00 (0.0%) | |
| Jul 11 | 265.00 | 7.60 | 25 | 28.8 | 0.00 (0.0%) | |
| 5% Yield On PGR Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Jul 3 | 265.00 | 6.40 | 17 | 35.3 | 0.00 (0.0%) | |
| Jul 11 | 265.00 | 7.60 | 25 | 28.8 | 0.00 (0.0%) | |
| 10% Yield On PGR Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Jul 3 | 265.00 | 6.40 | 17 | 35.3 | 0.00 (0.0%) | |
| Jul 11 | 265.00 | 7.60 | 25 | 28.8 | 0.00 (0.0%) | |
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| Top 10 Open Interest For Jun 20 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | GLD dividend | 1. | ALT dividend | |
| 2. | SPY dividend | 7. | IWM dividend | 2. | GES dividend | |
| 3. | QQQ dividend | 8. | TLT dividend | 3. | CAPR dividend | |
| 4. | TSLA dividend | 9. | AAPL dividend | 4. | QUBT dividend | |
| 5. | SLV dividend | 10. | INTC dividend | 5. | COGT dividend | |
Want more examples? PGNY Dividend | PGRE Dividend
