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Investors in ConocoPhillips (COP) can now access new options for the December 12th expiration. The $77.00 put contract, with a current bid of $0.50, presents a potential cost basis of $76.50 for investors looking to purchase shares, reflecting a 12% discount from the current trading price of $87.84.
On the call side, a $90.00 strike call contract is available at a bid of $1.65. If an investor sells-to-open this contract while holding shares, they could expect a total return of 4.34% if the stock gets called away at expiration. The odds of the call contract expiring worthless are currently estimated at 56%.
The implied volatilities are 48% for the put and 34% for the call. The trailing twelve-month volatility for ConocoPhillips is calculated at 34% based on recent trading activity.
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