Shareholders of PROG Holdings Inc (NASDAQ: PRG) have the opportunity to enhance their income by selling July covered calls at a $35 strike price, with a premium bid of $1.55, translating to an estimated annualized return of 9.9%. This could lead to a total annualized return of 11.7% if the stock is not called away. Currently, PRG shares are priced at $29.89, indicating a 17.4% price increase is necessary for the stock to reach the $35 strike.
In mid-afternoon trading on Wednesday, the S&P 500 put volume stood at 805,353 contracts, while call volume reached 1.74 million, yielding a put:call ratio of 0.46. This is significantly below the long-term median of 0.65, highlighting a strong preference for call options among traders.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
