Investors in Suncor Energy Inc (Ticker: SU) have new options available for expiration on July 2nd, 2023. Notably, a put contract at the $67.00 strike price has a current bid of $0.35, allowing investors to potentially purchase shares at $66.65 after premium collection, about 2% below the current trading price of $68.55 per share. The chance of this put contract expiring worthless is estimated at 61%.
Additionally, a call contract at the $69.00 strike price has a current bid of $0.85. If executed as a covered call, this would yield a potential total return of 1.90% if the stock is called away at expiration. The likelihood of the call contract expiring worthless stands at 49%, offering a possible 1.24% additional return or 10.78% annualized return if premiums are retained. The implied volatility for the put is at 35%, while the call is at 32%. The current share price for Suncor is $68.55.
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