Investors in Henry Schein Inc (HSIC) began trading new options this week for expiration on October 16th, with a significant focus on put and call contracts. The put contract at a $75.00 strike price currently has a bid of $5.00, offering an effective purchase cost of $70.00 per share if exercised. This represents a 4% discount from the current trading price of $77.90 per share, with a 64% chance of expiring worthless.
On the calls side, a $80.00 strike price call has a bid of $6.20. If an investor buys shares at $77.90 and sells this call, the maximum return would be 10.65% if the stock gets called away by expiration. The chances of this call expiring worthless are estimated at 45%. The implied volatility for the put is 36% and for the call is 32%, while actual trailing volatility is calculated at 29%.
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