Investors in CRH plc (NYSE: CRH) gained access to new options contracts today, expiring on July 17, 2023. Notable contracts include a put at a $105.00 strike price with a current bid of $2.30 and a call at a $110.00 strike price with a bid of $4.10. The current stock price of CRH is $109.16, representing a roughly 4% discount for the put option and approximately a 1% premium for the call.
If the put contract expires worthless, it could yield a 2.19% return on the cash commitment, translating to an annualized return of 12.49%. For the call option, should it also expire without being exercised, investors would keep both their shares and the premium, equating to a potential 3.76% increase in returns or 21.42% annualized. Current odds of the put contract expiring worthless are estimated at 65%, while those for the call contract stand at 48%.
The implied volatility is noted at 36% for the put and 33% for the call, contrasting with an actual trailing twelve-month volatility of 30%.
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