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Sana Biotechnology Inc (NYSE: SANA) shares are currently priced at $4.58. Investors can explore selling a January 2027 put option with a $2.50 strike price, currently bid at $0.70, offering a 28% return against the $2.50 commitment, translating to an 18.8% annualized rate of return.
To achieve this profit, Sana’s shares would need to decline by 45.4% for the contract to be exercised, resulting in an effective cost basis of $1.80 per share after accounting for the premium. The trailing twelve-month volatility for SANA is reported at 140%, derived from the last 249 trading days and the current share price.
On Monday, put volume among S&P 500 components reached 1.95M contracts, compared to 2.44M calls, yielding a put:call ratio of 0.80, which is above the long-term median of 0.65, indicating heightened interest in puts.
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