Just been looking at OTIS (that's Otis Worldwide, the elevator and escalator company for those wondering about otis meaning in the ticker) and there's actually a decent income strategy here if you're holding the stock.

So here's the situation: the base dividend yield is only 1.9%, which honestly feels pretty thin for a dividend play. But if you're willing to sell some upside, you can boost that significantly. The June covered call at the $95 strike is trading around $2.65 bid, which works out to an extra 9.4% annualized return on top of your dividend. That gets you to 11.2% total if the stock doesn't get called away.

The catch? You cap your upside at $95. From the current $90.21 level, that's only 5.1% of room to run before you lose the extra gains. But here's the thing - even if the stock does get called away at $95, you're still looking at an 8% return from this trading level plus whatever dividends you collected along the way. Not bad for a few months of work.

I pulled the 252-day volatility and it's sitting at 25%, which is pretty reasonable for evaluating this kind of trade. The stock's been trading in a decent range, and that $95 strike looks like it could be a natural resistance point based on the chart action.

One thing to keep in mind though - dividends aren't guaranteed. They tend to move with the company's profitability, so you'd want to check OTIS's dividend history before assuming that 1.9% is locked in. If the company's fundamentals are solid and the dividend trend is stable, then this strategy makes more sense.

Market sentiment today was actually pretty bullish on calls. Put-call ratio was 0.52 versus the long-term median of 0.65, so traders were definitely favoring calls over puts. Could mean there's decent upside interest, which makes capping yourself at $95 feel a bit more painful, but you've got to decide if that extra 9.4% is worth giving up the home run potential.