On October 9th, new options contracts for Chevron Corporation (Symbol: CVX) became available, attracting investor interest. A notable put contract at a $180.00 strike price has a current bid of $0.30, offering an effective cost basis of $179.70 if the contract is exercised. This represents a 9% discount from the current trading price of $198.10, with an 85% chance the contract will expire worthless, yielding a 0.17% return or 1.41% annualized.
Additionally, a call contract at a $205.00 strike price can be sold for $3.00, potentially providing a 5.00% return if exercised. This call contract is approximately 3% above the current price, with a 62% likelihood of expiring worthless, resulting in a 1.51% return or 12.85% annualized if retained. The implied volatility for the put is 29%, while the call stands at 27%. Current share price is $198.10.
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