Um, "ARR" and "TWO" are two totally different ticker symbols.
As for ARR, it's only trading down a nickel after going ex-div for 0.11 overnight. Looks like I'll keep half the div after all, and get the benefit of the runup to next month's skydive.
And ARR's options don't look like they move at all when this happens. In fact, out of 40 extant tickers, only two have any volume at all today, and only 40 contracts total between them.
With the monthly div and proper timing, this could be a good place to store cash.
I don't think ARR's swings are big enough in $ terms to make options play all that well. It'll have to be either swing-trading or just hanging on for the income, or a combination of them. I'd know more if anyone kept detailed (like, by-the-minute) trading records over a period of several months, but not even Google believes that's worth the disk space.
Looks like it trades in a 5-8% swing due to revolving monthly SPOs and divs.
I don't necessarily dislike it, I was going along with those noting that its nominal 18% div has been somewhat reduced by its long-term price decay, but looking closer it seems like the price has stabilized.
It looks like it's already climbing, so the drop from the div might still leave me some div to pocket. I'll average down if I get the chance, and decide at the beginning of next month whether I want to keep collecting the divs or play the cycles.
Monthly dividend works for them, so maybe they are on a monthly SPO model, too?
According to Yahoo, their price/book is 106% (as of yesterday) and premarket they're down only 2.2% of that, so the issue should still be accretive.
Equity price is a bit luff, but long-term stable. Could be the only time to get in and still keep most of the 18% yield.
I think I'll grab a few shares and see what monthly income feels like.
Here's a discussion of their dividend pattern:
It looks like they time the SPOs for the peak of the cum-div run. Which makes sense for them. And makes picking up SPO shares today all the more attractive, because tomorrow they're going ex-div for 11 cents.
My only question is whether the SEC would think of this as a pump-and-dump scheme.