Investors in Brinker International, Inc. (Symbol: EAT) gained new options today with a December 18th expiration date, offering opportunities for options trading. The $145.00 put contract carries a bid of $20.70, allowing investors to potentially acquire shares at an effective cost of $124.30, representing a 3% discount to the current trading price of $148.84. The likelihood of this put expiring worthless is estimated at 64%, indicating a potential return of 14.28%, annualized at 19.30%.
On the calls side, the $155.00 call contract has a current bid of $24.80. Investors who opt for this “covered call” strategy could achieve a total return of 20.80% by the contract’s expiration, although there’s a 42% chance it may expire worthless, allowing the investor to retain both their shares and the collected premium. The implied volatility for both contracts is around 54%, while the trailing twelve-month volatility is calculated at 47%.
