Shareholders of Howmet Aerospace Inc (HWM) looking to boost their income beyond the stock's 0.3% annualized dividend yield can sell the January 2027 covered call at the $130 strike and collect the premium based on the $13.10 bid, which annualizes to an additional 5.6% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 5.9% 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 HWM shares would have to advance 24.2% from current levels for that to occur, meaning that in the scenario where the stock is called, the shareholder has earned a 36.7% return from this trading level, in addition to any dividends collected before the stock was called.