Neither the Fund nor Madison undertakes any obligation to publicly update or revise any forward-looking statements. The Fund’s actual results may differ from current expectations or projections due to numerous factors, including but not limited to changes in the equity markets, changes in the portfolio’s value and other risks generally discussed in the Fund’s filings with the SEC. The Fund provides additional information on its website at Certain statements in this release are forward-looking. Market action can impact dividend issuance as the Fund’s total assets affect the Fund’s future dividend prospects. The Fund intends to pursue its objective by investing in a portfolio of common stocks and utilizing an option strategy, primarily by writing (selling) covered call options on a substantial portion of the common stocks in the portfolio in order to generate current income and gains from option writing premiums and, to a lesser extent, from dividends. The Fund’s objective is to achieve a high level of current income and current capital gains, with long-term capital appreciation as a secondary objective. If a distribution rate is largely comprised of sources other than income, it may not reflect Fund performance. If it is determined that a notification is required pursuant to Section 19(a) of the Investment Company Act of 1940, as amended, such notice will be posted to the Fund’s website after the close of business three business days before the payable date. The ex-dividend date will be June 15, 2023. The dividends will be payable Jto shareholders of record on June 16, 2023. It does not store any personal data.MADISON, Wis., J(GLOBE NEWSWIRE) - The Madison Covered Call and Equity Strategy Fund (NYSE:MCN) (the “Fund”) declares its quarterly dividend of $0.18/share. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. Now, it is not a good time to sell put spreads on FAANG stocks because they are all overvalued or fairly valued except Amazon and Facebook (check the dividend and growth stock database for the fair values: ). It is safe to sell put spreads on undervalued FAANG stocks. If they do not expire worthless, I would roll them into the future because eventually they will expire worthless in case of FAANG stocks. I would rather sell put spreads with 80-100% ROC per month on FAANG stocks as long as the underlying stock is fundamentally undervalued instead of selling covered calls. My buying power is available only once at any given time and I will certainly not use it for selling covered calls due to the low return of 1-2% per month. If you want to hold them for the long term, don’t sell covered calls, it will be painful when your stocks are called away and the stocks keep moving higher. FAANG stocks are growth stocks and they move quite a bit.
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