Dividend Amount: 13 cents
Ex-Dividend Date: June 11, 2012
Beta: 1.09 Strategy: Buy Hewlett-Packard stock and offer to sell the June $20.00 strike or lower call for 31 cents over the intrinsic value. I will attempt to close with a gain of near 9 cents, plus the dividend earned. I don't want the dividend capture trade unless the option sale will provide at least the minimum 31 cents over intrinsic value. If my shares are called away before trading ex-dividend (resulting from the option buyer wanting the dividend), I gain about 31 cents. The most I can make is 44 cents if I hold the covered call through option expiration day and the stock gets called away.