Investors in Micron Technology Inc. (NASDAQ: MU) were presented with new options for the August 12th expiration starting today. A notable call contract is available at the $810.00 strike price, currently offering a bid of $63.60. Buying shares at the current price of $802.53 and selling this call contract could yield a total return of 8.86% if the stock is called away at expiration, excluding dividends and commissions.
The $810.00 strike represents approximately a 1% premium above the current trading price, with a 46% probability of the contract expiring worthless, allowing investors to retain both their shares and the premium. Should it expire worthless, the premium would enhance returns by 7.92%, equating to an annualized yield of 192.84%. The implied volatility for the call is currently at 102%, compared to the trailing twelve-month volatility of 78%.
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