Investors in Intuitive Machines Inc (NASDAQ: LUNR) gained access to new options today, including a put contract for a $15.00 strike price set to expire in February 2026, with a current bid of $1.14. If sold, this would result in a cost basis of $13.86 per share, offering an 8% discount to the current trading price of $16.25. The probability of this put contract expiring worthless stands at 66%, potentially yielding a 7.60% return on cash commitment, or 63.05% annualized.
On the calls side, a $21.50 strike price call contract is available, currently bid at $0.84. Selling this contract as a “covered call” after buying shares at $16.25 could provide a total return of 37.48% if exercised. This strike price represents a 32% premium to the current trading price, with a 68% chance of the call expiring worthless, allowing investors to retain both shares and the premium. The potential yield from this call is projected to be 5.17% or 42.88% annualized.
Investors should note that the implied volatility for the put contract is 137%, while the call contract’s implied volatility is 120%. The actual trailing twelve-month volatility is calculated at 107%.
