What is a Covered Call? 5 Best Stocks For Covered Calls

In this article, we discuss what is a covered call and 10 best stocks to buy or covered calls. You can skip our detailed analysis of the covered call strategy and its performance over the years, and go directly to read What is a Covered Call? 5 Best Stocks For Covered Calls. 

5. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders: 84

Oracle Corporation (NYSE:ORCL) is an American multinational tech company that is known for providing a wide range of software and cloud-based services primarily aimed at businesses and organizations. In fiscal Q1 2023, the company’s revenue came in at $12.4 billion, which showed an 8.7% growth from the same period last year. Its cloud revenue for the quarter came in at $4.6 billion, up 30% from the prior year quarter.

Oracle Corporation (NYSE:ORCL) has raised its dividends for eight years straight. The company offers a quarterly dividend of $0.40 per share and has a dividend yield of 1.47%, as of September 22. It generated $7 billion in operating cash flow in the most recent quarter.

The number of hedge funds tracked by Insider Monkey reported having stakes in Oracle Corporation (NYSE:ORCL) jumped to 84 in Q2 2023, from 67 in the previous quarter. The collective value of these stakes is over $3.4 billion.