PRK Dividend
Although PRK has a dividend of 1.07 with an ex-dividend date of Aug 15, you can sell covered calls on Park National Corporation 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 National Corporation (PRK) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 157.72 | 177.59 | 170.74 | +3.48 | 67K | 16 | 2.7B |
PRK Dividend-Like Income Using Covered Calls
With PRK at 170.74, 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% | 5.12 | 1.4 |
| 5% | 8.54 | 2.3 |
| 10% | 17.07 | 4.7 |
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 Aug 15 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | IBIT dividend | 1. | COHR dividend | |
| 2. | SLV dividend | 7. | INTC dividend | 2. | QUBT dividend | |
| 3. | SPY dividend | 8. | GLD dividend | 3. | DLO dividend | |
| 4. | TSLA dividend | 9. | AMZN dividend | 4. | RCAT dividend | |
| 5. | IWM dividend | 10. | QQQ dividend | 5. | CRML dividend | |
Want more examples? PRIM Dividend | PRLB Dividend
