New Options Trading Opportunities Emerge for Academy Sports Investors

Investors in Academy Sports & Outdoors Inc (Symbol: ASO) are greeted with new trading options as of today, specifically for March 2026 expiration. The time value is a crucial factor affecting option pricing; with 340 days until expiration, these newly available contracts may offer sellers of puts or calls the chance to earn higher premiums than those closer to expiration.

Utilizing our YieldBoost formula at Stock Options Channel, we have analyzed the ASO options chain. Notably, we identified one put and one call contract that stand out. The put contract at a $35.00 strike price currently has a bid of $3.60. Should an investor choose to sell-to-open this put contract, they agree to purchase the stock at $35.00 while collecting the premium, which effectively lowers the cost basis of the shares to $31.40 (excluding broker commissions). For investors looking to buy shares of ASO, this could be an appealing alternative to the current market price of $37.44 per share.

This $35.00 strike price reflects about a 7% discount from the current trading price of the stock, indicating that it is out-of-the-money by that percentage. The current analytical data—including greeks and implied greeks—suggests that the chances of the put contract expiring worthless sit at 66%. Stock Options Channel will monitor these odds over time and publish a chart on our website under the contract detail page for further insights. If the contract expires worthless, the premium would yield a return of 10.29% on the cash commitment, or an annualized rate of 11.04%, which we term the YieldBoost.

Below is a chart illustrating the trailing twelve-month trading history for Academy Sports & Outdoors Inc, with the $35.00 strike highlighted in green:

Looking at the call options, the contract at the $40.00 strike price is currently bidding at $4.30. If an investor acquired shares of ASO at the present price of $37.44 per share and then opted to sell-to-open this call contract as a “covered call,” they would commit to selling the stock at $40.00. Considering the premium collected from the call, this could yield a total return (excluding dividends) of 18.32% if the stock is called away by the March 2026 expiration (before factoring in broker commissions). However, significant potential upside could be forfeited if ASO shares appreciate significantly, making it essential to review the company’s trailing twelve-month trading history and fundamentals.

Below is a chart displaying ASO’s trailing twelve-month trading history, with the $40.00 strike marked in red:

Importantly, the $40.00 strike is approximately a 7% premium over the current trading price of the stock, which also means there is a possibility that the covered call could expire worthless. In this case, the investor would retain both their shares and the collected premium. Current analytical data estimates the odds of this happening at 44%. Stock Options Channel will continue to track these odds and provide an updated chart under the contract detail page, along with the trading history of the option contract. Should the covered call expire worthless, the premium would equate to an 11.49% increase in return, or 12.33% annualized, encapsulated as the YieldBoost.

The implied volatility for the put contract is 54%, while the call contract shows an implied volatility of 52%. Conversely, we calculate the actual trailing twelve-month volatility—accounting for the last 250 trading days and today’s price of $37.44—to be 45%. For additional insights on various put and call options contracts, visit StockOptionsChannel.com.

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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.