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Investors in James Hardie Industries plc (JHX) saw new options trades commence today, with an expiration date set for October 17th. Notable contracts include a put at a $27.50 strike price, currently bidding at $1.15, which would require buyers to take on shares at that price, effectively reducing their cost basis to $26.35. This represents a 2% discount compared to the current trading price of $28.09.
Additionally, a call option at the $30.00 strike price has a bid of $0.80. If executed as a covered call, it could yield a total return of 9.65% if the shares are called away by the expiration date. The $30.00 strike is approximately 7% above the current price, with existing probabilities suggesting a 54% chance of this contract expiring worthless.
Current implied volatilities for the put and call contracts are 48% and 58%, respectively, while the trailing twelve-month volatility stands at 46% based on the last 249 trading days.
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