Investors in McKesson Corp (MCK) saw new options trading begin today for the June 2027 expiration. Notably, a put contract at a $740 strike price has a current bid of $69, allowing investors to effectively purchase the stock at a cost basis of $671, representing a 2% discount from the current trading price of $753.76. Analysts estimate a 63% chance that this contract could expire worthless, potentially yielding a 9.32% return on cash commitment, or 9.45% annualized.
Meanwhile, a call contract at a $820 strike price is currently bid at $73. If shares are purchased at $753.76 and the call is sold, investors could see an 18.47% total return if the stock is called away by expiration. The likelihood of this call contract expiring worthless is estimated at 51%, with potential additional returns of 9.68% or 9.82% annualized from the premium if it does.
The implied volatility for the put contract is 31%, while it stands at 32% for the call. McKesson’s trailing twelve-month volatility is calculated at 29%, factoring in the past 250 trading days.
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