I would like to hear from option traders that utilize option pricing models on just how important they feel dividends are in the calculation. From my own research, using option price models with the dividend and without on the same security produce differences of only a few pennies. The dividend seems to have a relatively minor impact on the option price. Only in the last few weeks before Ex-date does it seem to matter. At that time the dividend ex date and amount are known. This is one of the few known factors and as such would be easy to do in your head and be more a matter of timing depending on the strategy employed. What are your thought?