Par Pacific Holdings Inc (PARR) has introduced new options contracts for July 2026, providing investors with opportunities for enhanced premiums. Notable is the put option priced at a $30.00 strike with a bid of $3.50, allowing for a potential effective purchase price of $26.50 per share before commissions, representing a 3% discount from the current share price of $30.98. Current odds for this put contract to expire worthless are approximately 66%, potentially yielding an 11.67% return on the cash commitment.
Additionally, a call option at a $35.00 strike has a bid of $3.40. If shareholders sell this covered call, their total return could reach 23.95% if the stock is called away at expiration. The call option is priced around 13% above the current market price. Current odds for it to expire worthless stand at 46%, offering an extra return of 10.97% for retained shares. The implied volatility for the put contract is at 59%, whereas the call contract shows 54%.
