Shareholders of Dime Community Bancshares Inc (DCOM) looking to boost their income beyond the stock's 3.2% annualized dividend yield can sell the September covered call at the $35 strike and collect the premium based on the $2.35 bid, which annualizes to an additional 11.3% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 14.5% annualized rate in the scenario where the stock is not called away. Any upside above $35 would be lost if the stock rises there and is called away, but DCOM shares would have to advance 10% from current levels for that to happen, meaning that in the scenario where the stock is called, the shareholder has earned a 17.4% return from this trading level, in addition to any dividends collected before the stock was called.