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YieldBoost Crown Castle International Corp To 11.6% Using Options

Shareholders of Crown Castle International Corp (CCI) looking to boost their income beyond the stock's 3.4% annualized dividend yield can sell the January 2020 covered call at the $135 strike and collect the premium based on the $6.70 bid, which annualizes to an additional 8.2% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 11.6% annualized rate in the scenario where the stock is not called away. Any upside above $135 would be lost if the stock rises there and is called away, but CCI shares would have to advance 0.2% from current levels for that to happen, meaning that in the scenario where the stock is called, the shareholder has earned a 5.2% return from this trading level, in addition to any dividends collected before the stock was called.
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