This trade was actually executed on Monday 11/14/16. I didn’t get a chance to write about it until today.
V went ex-dividend shortly after this trade was executed (Wednesday 11/16). Thanks to raising its annual dividends for nine consecutive years, Visa is a dividend challenger. This quarter’s distribution is $0.165/share, which is a $0.025/share (17.9%) increase over the previous.
Of course the premium received for this trade represents over a year’s worth of dividends at the new rate, so I’m not too disappointed that I missed this quarter’s payout.
SPL (Strike Price Logic)
So $76 sounds perfectly fine to me.