And what did the overall market do those days the stock rose? You point out two examples. Overall, the risk/reward is not in your favor.
Tried this a number of ways - its tough cause everybody knows the deal and the stock drops the div amount, if you hold the stock you still have the market risk. Even tried it by selling deep in the money calls, you get the div and don't lose any on the stock going down on ex-div date right, but alas, they call the stock away right before ex-div! So no money that way. Capturing div as part of a pairs strategy is another way to try it also, my experience it was tough but don't dismiss making 10 cents profit can be a sweet deal if you put on enough size.
another way to capture the dividend is to buy stock before the ex date and sell deeply in-the-money calls against it. you need calls that have some time value in them, i.e. you do not want to sell calls for less than parity with the expected drop in price of the stock. to do this you may have to go out an extra month on the option series. you capture the dividend and ride the covered call until the time value bleeds out (at which point you can expect assignment and your stock to get called away) or you get stopped out on a sharp price drop. hell just sell leaps if ur lazy and hold the covered calls for a year or more.
A few of today's ex-dividends that worked out great from yesterday: CBO div of .43 a share...only opened down .19 CCB div of .51 a share...only opened down .12 JPT div of .46 a share...opened down .52 but has run up and is currently down .30 So if you can find some non volatile stocks,like the above,with good dividends and just hold positions overnight to capture the dividend,it can work out to be a great strategy.
TRP has a dividend next week of 0.18 on April 30th... so you buy at the close on april 29th and sell on april 30th?
Absolutely hilarious - we all get what our lunacy deserves. Feel sorry for the poor CFO ... FYI (not that anyone cares) but in Taiwan the vast majority of tech. companies issue stock dividends each year and they are referred to as such - kind of makes is sound like shareholders are getting something beyond modest price appreciation. I've never heard a local discuss a 'stock split' though obviously they are effectively equivalent.
This site lists ex-div dates everyday...http://www.companyboardroom.com/dividend.asp?month=20030425&day=20030425&date=20030425&client=cb
According to this,TRP went ex-div already on March 27...http://www.companyboardroom.com/dividend.asp?month=20030325&day=20030427&date=20030327&client=cb