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Shareholders of Ardagh Metal Packaging SA (AMBP) can enhance their income by selling a November covered call at the $5 strike for a premium of 5 cents, which equates to an annualized return of 246.6%. This could bring the total annualized return to 257.4%, assuming shares are not called away. The stock would need to increase by 35.1% for it to be called, resulting in a total return of 36.5% plus any dividends.
As of mid-afternoon trading on Wednesday, a total of 684,819 put contracts and 1.41 million call contracts were recorded among S&P 500 components, resulting in a put-call ratio of 0.48, which indicates significantly higher call volume compared to puts. The long-term median put-call ratio stands at 0.65.
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