Shareholders of Telephone & Data Systems Inc (TDS) looking to boost their income beyond the stock's 4.8% annualized dividend yield can sell the November covered call at the $17.50 strike and collect the premium based on the $2.80 bid, which annualizes to an additional 31.9% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 36.7% annualized rate in the scenario where the stock is not called away. Any upside above $17.50 would be lost if the stock rises there and is called away, but TDS shares would have to climb 9.2% from current levels for that to occur, meaning that in the scenario where the stock is called, the shareholder has earned a 26.7% return from this trading level, in addition to any dividends collected before the stock was called.