Shareholders of California Resources Corp (CRC) looking to boost their income beyond the stock's 3% annualized dividend yield can sell the December 2025 covered call at the $65 strike and collect the premium based on the $3.60 bid, which annualizes to an additional 5.9% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 8.9% annualized rate in the scenario where the stock is not called away. Any upside above $65 would be lost if the stock rises there and is called away, but CRC shares would have to advance 23.7% from current levels for that to occur, meaning that in the scenario where the stock is called, the shareholder has earned a 30.5% return from this trading level, in addition to any dividends collected before the stock was called.