PKOH Dividend
Although PKOH has a dividend of 0.13 with an ex-dividend date of Nov 15, you can sell covered calls on Park-Ohio Holdings Corp. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 4:16 PM ET):
| Park-Ohio Holdings Corp. (PKOH) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 32.50 | 53.42 | 33.39 | +4.37 | 84K | 21 | 0.4B |
PKOH Dividend-Like Income Using Covered Calls
With PKOH at 33.39, 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% | 1.00 | 0.3 |
| 5% | 1.67 | 0.5 |
| 10% | 3.34 | 0.9 |
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 15 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | FXI dividend | 6. | EEM dividend | 1. | CLOV dividend | |
| 2. | NVDA dividend | 7. | TLT dividend | 2. | WOLF dividend | |
| 3. | SLV dividend | 8. | TSLA dividend | 3. | MTCH dividend | |
| 4. | SPY dividend | 9. | EWZ dividend | 4. | UPST dividend | |
| 5. | IWM dividend | 10. | QQQ dividend | 5. | RIVN dividend | |
Want more examples? PKG Dividend | PKW Dividend
