On October 25, 2023, Natera Inc (Symbol: NTRA) introduced new options contracts with an expiration date of August 2027. These contracts enable investors to capitalize on the time value and potentially secure higher premiums compared to shorter-term contracts. Notable options include a put contract at a $320.00 strike price, currently bid at $52.60, suggesting an effective purchase price of $267.40 if executed.
The current market price for NTRA shares stands at $325.09, placing the put option approximately 2% out-of-the-money with a 64% likelihood of expiring worthless. Conversely, a call contract with a $350.00 strike, bid at $56.50, presents a potential total return of 25.04% if the stock is called away by expiration. This call option is 8% out-of-the-money, with a 43% chance of also expiring worthless.
The implied volatility for both the put and call options is around 50%, while the actual trailing twelve-month volatility is calculated at 47% based on the last 250 trading days.
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