Investors in Accenture plc (ACN) gained access to new options with an expiration date of October 17, 2023. Key options include a put contract at a $200.00 strike price, currently bid at $1.15, which represents a 20% discount to the current trading price of $248.59 per share. Investors selling this put would effectively lower their cost basis to $198.85, with a 91% chance that it could expire worthless, yielding a 0.57% return on cash commitment (2.87% annualized).
On the call side, there is a contract at a $260.00 strike price, bid at $9.60. If an investor purchases shares at the current price and sells this covered call, they could achieve an 8.45% total return by expiration. This strike price is approximately a 5% premium over the current share price, with a 58% chance of the contract expiring worthless, allowing the investor to keep both shares and premiums, yielding a 3.86% boost (19.31% annualized).
The implied volatility for the put contract stands at 40% while the call contract’s implied volatility is at 34%. Actual trailing twelve month volatility is calculated at 28%.
