Investors in McKesson Corp (NYSE: MCK) can now trade new options expiring in September 2027, including a put contract at the $860.00 strike price with a current bid of $88.40, offering a potential cost basis of $771.60 per share. This represents about a 1% discount from the current share price of $864.75, with a 61% chance that the put contract may expire worthless. If it does expire worthless, the premium would yield a return of 10.28%, or 9.52% annualized.
Additionally, a call contract at the $920.00 strike price is available, with a current bid of $93.30. A covered call strategy involving this contract could generate a total return of 17.18% if exercised, with a 48% chance of expiring worthless, allowing the investor to retain their shares and the premium collected, leading to a potential yield boost of 10.79%, or 10.00% annualized.
The implied volatility for both the put and call contracts is approximately 31%, while the actual trailing twelve-month volatility is calculated at 30% based on recent trading values.
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