Investors in Helmerich & Payne, Inc. (HP) saw new options contracts begin trading for December 2026. The newly available put contract at a $17.50 strike price has a current bid of $2.00, allowing sellers to potentially buy shares at a cost basis of $15.50. This represents a 5% discount to the current trading price of $18.45. The odds of the contract expiring worthless are estimated at 65%, potentially yielding an 11.43% return on cash commitment, or 7.54% annualized.
On the call side, a contract at a $20.00 strike price has a current bid of $1.50. If shares are purchased at $18.45 and the call is sold, it could yield a total return of 16.53% if exercised. The probability of this contract expiring worthless stands at 42%, potentially contributing an 8.13% additional return or 5.37% annualized. The put and call contracts indicate implied volatilities of 58% and 59%, respectively.
