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Shareholders of Innovative Industrial Properties Inc (Symbol: IIPR) can enhance their income by selling covered calls at a $65 strike price expiring in April 2026. This strategy could yield an additional 8.2% return based on the current stock price of $54.77, resulting in a total potential annualized return of 22.1%, provided the stock is not called away. IIPR shares would need to increase by 18.5% for the stock to be called, which would still offer a return of 22.5% including dividends.
As of Tuesday afternoon, the trading activity for S&P 500 options showed put volume at 616,962 contracts and call volume at 1.27 million contracts, leading to a put:call ratio of 0.48—indicating a strong preference for calls among traders.
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