Investors in Marathon Digital Holdings Inc (NASDAQ: MARA) saw new options trading begin today for expiration on August 21, 2023. Notably, a put contract with a $5.00 strike price has a current bid of $0.04, which presents a potential cost basis of $4.96 if sold-to-open. This strike price is approximately 59% below the current trading price of $12.30 per share and carries a projected 91% chance of expiring worthless.
Additionally, a call contract at the $18.00 strike price, with a current bid of $0.54, represents an approximate 46% premium over the current share price. If the stock is called away by expiration, this could yield a total return of 50.73%. There is a 68% probability that this call contract will also expire worthless. The implied volatility for the put contract stands at 221%, while the call contract sits at 92%.
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