ConocoPhillips (COP) stock has a 3.42% dividend yield, well below its 5-year average. As a result, its price target is at least 29% higher at $126.65 based on this yield. But, investors can sell short out-of-the-money (OTM) put options and earn about 1.5% monthly.
COP closed at $98.19 on Friday, Jan. 16. It has closed as low as $90.16 in the last month (December 16) and generally traded in a range between $90 and $100 for the past 2 months.
