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Michael Kurty
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Michael Kurty has been a full time trader for the last 15 years, specializing in options with an emphasis on vertical spreads and covered calls. He has been retired from an engineering profession, and has a Masters Degree in Statistics from Stanford. His trading techniques include... More
  • GLW Dividend Hike ! 0 comments
    Oct 3, 2012 2:42 PM | about stocks: GLW

    Well, the news is out: 12:51 PM Corning (GLW) declares $0.09/share quarterly dividend, 20% increase from prior dividend of $0.075. Forward yield 2.72%. For shareholders of record Nov 16. Payable Dec 14. Ex-div date Nov 14

    This is probably what caused the big spike last Thursday.

    The October Bull Put spread is probably pretty safe now and you can hang on to it for maximum profit when they expire.

    For new trades, I am thinking about holding my long positions until this current pop is over, and then writing some in the money calls. For those of you who are not yet long, you might consider taking a long position, then writing some ITM calls in a few days.

    Disclosure: I am long GLW, CSCO.

    Themes: Dividend, breakout Stocks: GLW
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