Investors in Apple Inc. (AAPL) have new options available for the August 12th expiration, including a put contract at a $335.00 strike price with a current bid of $6.85. Selling-to-open this put contract would mean committing to buy shares at $335.00, effectively bringing the cost basis to $328.15, compared to today’s trading price of $337.12. The $335.00 strike represents an approximate 1% discount to the current stock price, with a 54% likelihood that the put could expire worthless.
Additionally, there is a call contract available at a $340.00 strike price, with a current bid of $5.75. If an investor buys shares at $337.12 and sells this call as a covered call, the total return would be 2.56% if the stock gets called away. This strike also has a 55% chance of expiring worthless, allowing the investor to retain both the shares and premium collected.
Implied volatility for both contracts hovers around 33%, while the actual trailing twelve-month volatility stands at 25%.
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