Investors in Onto Innovation Inc (NASDAQ: ONTO) commenced trading new options today with a January 2028 expiration. The introduction includes a $330.00 strike put contract with a current bid of $107.00, allowing sellers to potentially purchase shares at an effective cost basis of $223.00. Given the stock’s current price of $336.94, this represents an approximate 2% discount. Analysts suggest a 72% chance that the put will expire worthless, presenting a potential return of 32.42% on the cash commitment if it does.
On the call options side, the $400.00 strike price call contract has a bid of $113.50. An investor purchasing shares at $336.94 and selling this covered call could see a total return of 52.40% if the stock is called away at expiration. This strike represents a 19% premium to the current price, with a 35% chance of expiring worthless, which would allow the investor to retain both the shares and the premium.
Current implied volatility for both put and call contracts stands at approximately 81%, while the trailing twelve-month volatility is calculated at 69%.
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