Investors in the iShares Bitcoin Trust ETF (IBIT) gained access to new options today, set to expire on April 8. Notably, a put contract at a $39.00 strike price carries a current bid of $1.26, allowing investors to effectively lower their purchase price to $37.74, a 1% discount from IBIT’s current trading price of $39.54. Data suggests a 60% chance this put contract may expire worthless, potentially yielding a 3.23% return on the cash commitment.
On the call side, a $40.00 strike contract is available with a bid of $1.59. If investors purchase shares at $39.54 and engage in a covered call, they could see a total return of 5.18% if the stock is called away by expiration, equating to a 4.02% boost if the call expires worthless, with a 49% chance of that outcome. Current implied volatility stands at 53% for the put and 51% for the call, while actual trailing twelve-month volatility is 46%.
