re: "no one can figure out the dividend coverage...back to sub 10"
You probably need to move on to another stock because you don't get it. The dividend coverage is well understood by many investors. So if you don't understand it yet, you're never going to.
To anyone looking at ORI for the first time, the losses in the mortgage insurance division have no impact whatsoever on the dividend paying capacity of the parent company. In the middle of the financial crisis, when not only the mortgage insurance division was under water, the title insurance division was also - yet, even then, the company could easily pay the dividend out of the general insurance division.
Since that time, the general insurance division has become a lot more profitable - and the title insurance division went from large losses to large profits. So the dividend paying capabilty of the company is increasing - it's not in jeopardy. Sub 10 is not likely. Weren't you shorting in the low 9's? Don't tell me you haven't covered yet!!!
If you factor in CCI, which does affect the parent, then they barely made the dividend....I actually bot some in 7s after many useful discussions on this board as we ferreted out the risks....sold a while ago....i am totally flat but will look for a level to get short....there are better places to earn 6%