Investors in Icon plc (ICLR) gained access to new options today, set to expire in March 2026. Notable contracts include a put option at a $180.00 strike price with a current bid of $12.10, allowing sellers to potentially purchase shares at an effective cost basis of $167.90, offering a 6.72% return if it expires worthless. The likelihood of this happening is estimated at 60%.
Additionally, a call option at the $190.00 strike price has a current bid of $13.40, with a possible total return of 12.02% if exercised. The odds of this covered call expiring worthless are estimated at 49%, potentially yielding a 7.38% boost in returns if the option is not exercised. Both contracts exhibit an implied volatility of approximately 46%.
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