Strategy To YieldBoost Myers Industries From 2.9% To 32.1% Using Options

Shareholders of Myers Industries Inc. (MYE) looking to boost their income beyond the stock's 2.9% annualized dividend yield can sell the June covered call at the $22.50 strike and collect the premium based on the 65 cents bid, which annualizes to an additional 29.2% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 32.1% annualized rate in the scenario where the stock is not called away..