Calamos Convertible Opportunities and Income Fund Common Stock (CHI)

FairStock Score: 54/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Calamos Convertible Opportunities and Income Fund not as an operating company but as a closed-end pool of convertible securities and high-yield corporate bonds. It has about $959.9 million in market capitalization. Its appeal rests on management’s ability to select convertibles and lower-rated credit, not on a conventional competitive moat; closed-end fund discounts and distribution policy can matter as much as portfolio skill. The supplied data show a 9.40% dividend yield, beta of 1.11, and price of $11.78 at the 2026-10-13 close, within a 52-week range of $10.26–$13.50. On valuation, the FairStock-calculated P/B is 0.98, so the shares trade near net asset value, while the calculated P/E is 3.03. The Graham Number is $31.20, implying a 62.24% margin of safety, but I treat that cautiously because such a measure is more naturally applied to industrial earnings than to a leveraged bond fund. Financial health signals are mixed to weak: the FairStock-calculated ROE is 35.84%, yet ROCE is only 0.20%, D/E is 0.45, Piotroski is 1/9, and Altman Z is 1.34. The FairStock Score is 54/100. Growth data are unavailable, and the fund has no Lynch category because only 0 years of filed results are available, not the three needed. For a Graham-style investor, the small discount to book value and high yield are interesting, but the weak quality and risk scores counsel patience and a demand for a wider discount or clearer coverage of distributions.

In plain English: This is a fund that invests mostly in convertible bonds and lower-rated corporate bonds. Its financial picture is mixed: some value measures look cheap, but quality and risk measures are weak. At $11.78, the price looks near its accounting value and well below one calculated fair-value estimate, though that estimate may not fit a bond fund well.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer