Shareholders of L3Harris Technologies Inc (LHX) looking to boost their income beyond the stock's 1.9% annualized dividend yield can sell the October covered call at the $240 strike and collect the premium based on the $8.80 bid, which annualizes to an additional 14.6% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 16.6% annualized rate in the scenario where the stock is not called away. Any upside above $240 would be lost if the stock rises there and is called away, but LHX shares would have to climb 0.5% from current levels for that to occur, meaning that in the scenario where the stock is called, the shareholder has earned a 4.2% return from this trading level, in addition to any dividends collected before the stock was called.