Investors in Global Payments Inc (GPN) have access to new options expiring on October 16, 2023. The newly available contracts include a put at a $55.00 strike price with a current bid of $0.65, allowing sellers to potentially lower their cost basis for shares to $54.35, representing a 26% discount from the current trading price of $74.65. The odds of this put contract expiring worthless are estimated at 87%.
On the calls side, a contract at the $80.00 strike price is currently bid at $3.60. If shares are sold at that price at expiration, it could yield a total return of 11.99%, excluding dividends. This strike represents a 7% premium over the current price, with a 55% chance of expiring worthless, allowing investors to keep the premium collected. Implied volatility for the put is calculated at 55%, while for the call, it is at 41%.
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