Investors in Apple Inc. (AAPL) saw new options begin trading on August 5th. A noteworthy put contract at a $270.00 strike price has a current bid of 14 cents, presenting an attractive entry point relative to the current trading price of $326.06, offering a potential discount of approximately 17%. The chances of the contract expiring worthless are estimated at 96%.
On the call side, a contract at a $330.00 strike price is available with a bid of $6.50. If exercised, this covered call could yield a total return of 3.20% at expiration, excluding dividends. Current odds suggest a 57% chance of this contract expiring worthless, which would allow investors to keep their shares and the premium.
The implied volatilities for the put and call contracts are 57% and 36%, respectively, while the actual trailing twelve-month volatility stands at 24%.
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