Shareholders of WK Kellogg Co (KLG) looking to boost their income beyond the stock's 3.1% annualized dividend yield can sell the June 2025 covered call at the $22.50 strike and collect the premium based on the $1.70 bid, which annualizes to an additional 15.8% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 18.8% annualized rate in the scenario where the stock is not called away. Any upside above $22.50 would be lost if the stock rises there and is called away, but KLG shares would have to advance 8% from current levels for that to happen, meaning that in the scenario where the stock is called, the shareholder has earned a 16.1% return from this trading level, in addition to any dividends collected before the stock was called.