Investors in Corning Inc (Symbol: GLW) can now access new options that expire in June 2027, offering an opportunity for potential higher premiums due to the 374 days until expiration. Notably, a put contract at the $185.00 strike price has a bid of $49.00, allowing sellers to potentially lower their cost basis for shares to $136.00 if they exercise the contract. This offers approximately a 1% discount to the current trading price of $187.66, with a 67% chance that the contract could expire worthless, representing a 26.49% return on cash commitment.
On the calls side, a contract at the $200.00 strike price is available with a current bid of $52.00. If investors sell this covered call after purchasing shares at today’s price, they could achieve a total return of 34.29% upon expiration in June 2027, albeit with a 37% chance of the contract expiring worthless. The implied volatility for both contracts stands at approximately 77%, while actual trailing twelve-month volatility is calculated at 55%, based on the last 250 trading days.
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