Shareholders of Hess Corp (HES) looking to boost their income beyond the stock's 1.6% annualized dividend yield can sell the January 2025 covered call at the $130 strike and collect the premium based on the $5.90 bid, which annualizes to an additional 13.6% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 15.2% annualized rate in the scenario where the stock is not called away. Any upside above $130 would be lost if the stock rises there and is called away, but HES shares would have to climb 4.8% from current levels for that to happen, meaning that in the scenario where the stock is called, the shareholder has earned a 9.5% return from this trading level, in addition to any dividends collected before the stock was called.