Investors in Bio-Techne Corp (Symbol: TECH) have new options available for expiration on August 15th, 2023. A notable put contract at the $40.00 strike price has a current bid of $0.65, with an 83% chance of expiring worthless, offering a potential return of 1.62% on the cash commitment, or 11.19% annualized. The $40.00 strike represents a 20% discount to the current trading price of $49.71 per share.
Additionally, a call contract at the $50.00 strike price has a bid of $3.80, representing a 1% premium over the current price. If the stock is sold at this strike, it could yield an 8.23% total return excluding dividends. The likelihood of this call contract expiring worthless is estimated at 45%, which would offer a 7.64% boost to returns, or 52.64% annualized.
The implied volatility for the put contract is 73%, while for the call, it stands at 65%. The trailing twelve-month volatility of the stock is calculated at 41% based on 249 trading days leading up to the current price.
