Investors in the iShares Bitcoin Trust ETF (Symbol: IBIT) can now access new options contracts set to expire on March 27. Notably, a put option at the $38.50 strike price has a current bid of $2.76, allowing investors to potentially lower their cost basis to $35.74 if sold to open. This strike price represents a 1% discount from the current share price of $39.05, with a 56% chance that the put will expire worthless.
Additionally, a call option at the $39.50 strike price is currently bid at $2.79. Selling this covered call while owning shares at $39.05 could yield an 8.30% total return at expiration, although there’s a 49% chance this contract could also expire worthless, allowing investors to retain both their shares and premium income. Implied volatility for both options is approximately 56%, whereas the trailing twelve-month volatility is calculated at 46%.
