{"slug":"covered-calls-on-ko","qid":"premium_vs_dividend","label":"Monthly 30 delta call premium versus trailing dividend yield","post_title":"Covered Calls on KO: Premium vs Dividend","post_url":"/blog/covered-calls-on-ko#q-premium_vs_dividend","columns":["symbol","monthly_call_premium_pct","trailing_dividend_yield_pct","quarterly_dividend_pct"],"rows":[{"symbol":"KO","monthly_call_premium_pct":1.07,"trailing_dividend_yield_pct":2.44,"quarterly_dividend_pct":0.61},{"symbol":"PG","monthly_call_premium_pct":1.17,"trailing_dividend_yield_pct":2.95,"quarterly_dividend_pct":0.74},{"symbol":"XOM","monthly_call_premium_pct":1.53,"trailing_dividend_yield_pct":2.53,"quarterly_dividend_pct":0.63},{"symbol":"JNJ","monthly_call_premium_pct":1.3,"trailing_dividend_yield_pct":1.99,"quarterly_dividend_pct":0.5},{"symbol":"MSFT","monthly_call_premium_pct":1.83,"trailing_dividend_yield_pct":0.71,"quarterly_dividend_pct":0.18},{"symbol":"AAPL","monthly_call_premium_pct":1.41,"trailing_dividend_yield_pct":0.32,"quarterly_dividend_pct":0.08},{"symbol":"NVDA","monthly_call_premium_pct":1.98,"trailing_dividend_yield_pct":0.23,"quarterly_dividend_pct":0.06}],"shape":"ranking","sql":"WITH\npremium AS\n(\n    SELECT\n        underlying_symbol                                                          AS symbol,\n        round(100 * avg(toFloat64(option_close) / toFloat64(underlying_close)), 2) AS monthly_call_premium_pct\n    FROM global_markets.options_greeks\n    WHERE underlying_symbol IN ('KO', 'PG', 'JNJ', 'XOM', 'AAPL', 'MSFT', 'NVDA')\n      AND upper(toString(option_type)) IN ('C', 'CALL')\n      AND iv_converged = 1\n      AND volume > 0\n      AND days_to_expiry BETWEEN 25 AND 40\n      AND toFloat64(delta) BETWEEN 0.25 AND 0.35\n      AND date >= '2026-07-01'\n      AND date <  '2026-10-01'\n    GROUP BY symbol\n),\ncash AS\n(\n    SELECT\n        ticker                      AS symbol,\n        sum(toFloat64(cash_amount)) AS ttm_dividend_usd\n    FROM\n    (\n        SELECT\n            ticker,\n            ex_dividend_date,\n            max(cash_amount) AS cash_amount\n        FROM global_markets.stocks_dividends\n        WHERE ticker IN ('KO', 'PG', 'JNJ', 'XOM', 'AAPL', 'MSFT', 'NVDA')\n          AND ex_dividend_date >= '2025-10-01'\n          AND ex_dividend_date <  '2026-10-01'\n        GROUP BY ticker, ex_dividend_date\n    )\n    GROUP BY symbol\n),\nprice AS\n(\n    SELECT\n        ticker                         AS symbol,\n        toFloat64(argMax(close, date)) AS last_close\n    FROM global_markets.stocks_daily_aggs\n    WHERE ticker IN ('KO', 'PG', 'JNJ', 'XOM', 'AAPL', 'MSFT', 'NVDA')\n      AND date >= '2026-09-01'\n      AND date <  '2026-10-01'\n    GROUP BY symbol\n)\nSELECT\n    p.symbol                                           AS symbol,\n    p.monthly_call_premium_pct                         AS monthly_call_premium_pct,\n    round(100 * c.ttm_dividend_usd / pr.last_close, 2) AS trailing_dividend_yield_pct,\n    round(25 * c.ttm_dividend_usd / pr.last_close, 2)  AS quarterly_dividend_pct\nFROM premium AS p\nINNER JOIN cash AS c ON c.symbol = p.symbol\nINNER JOIN price AS pr ON pr.symbol = p.symbol\nORDER BY (p.symbol = 'KO') DESC, trailing_dividend_yield_pct DESC","computed_at":"2026-10-09T15:38:30.862217+00:00","elapsed":0.004937566}