Investors in NextNav Inc. (Symbol: NN) gained access to new options today with an expiration date of October 16. A notable put contract at the $17.00 strike price is currently bid at $1.25, allowing investors to potentially acquire shares at an effective $15.75, compared to the current market price of $18.17. This represents a 6% discount, with a 63% probability that the put contract may expire worthless.
Additionally, a call contract at the $25.00 strike price bids at $2.00. If executed as a covered call, investors committing to sell at this price could see a total return of approximately 48.60% if the stock is called away. The current probability of this call contract expiring worthless stands at 60%. Implied volatility for the put is 123%, while the call’s is at 162%. Current stock volatility over the past year is calculated at 76%.
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