Shareholders of California Resources Corp (Symbol: CRC) can enhance their income by selling the October covered call at the $50 strike for a premium of $1.90, which translates to an annualized return of 13.5%. This could yield a total return of 16.9%, assuming the stock price remains below $50. Currently, shares are priced at $45.45, requiring a 9.8% increase to reach the $50 strike level, resulting in a 14% return for shareholders if the stock is called, alongside any collected dividends.
The trailing twelve-month volatility for California Resources Corp, calculated from the last 250 trading days, is 44%. In mid-afternoon trading on Thursday, the total put volume among S&P 500 components was 950,843 contracts, while call volume reached 2.14 million, resulting in a put:call ratio of 0.44, indicating a preference for calls in options trading today.
