Investors in Capital One Financial Corp (COF) have new options available for expiration on August 7, 2023. A put contract at the $205.00 strike price is currently bid at $7.30, allowing investors to commit to purchasing shares at this price, effectively lowering their cost basis to $197.70 per share, compared to the current trading price of $207.87. The put option carries a 56% chance of expiring worthless, potentially yielding a 3.56% return on the cash commitment.
On the call side, a $210.00 strike call option is bid at $7.60. Investors purchasing shares at $207.87 and subsequently selling this call could see a total return of 4.68% if exercised, although there is a 51% chance this option may expire worthless. The implied volatility for the put is 37% and for the call 38%, while Capital One’s trailing twelve-month volatility is recorded at 32%.
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