Investors in Apple Inc (AAPL) observed the initiation of new options trading for the July 15th expiration today. A notable put contract at the $280.00 strike price has a current bid of $3.10, allowing investors to potentially acquire shares at an effective cost basis of $276.90, reflecting a discount of approximately 2% from the current share price of $285.84. The odds of this put expiring worthless are estimated at 67%.
On the call side, a contract at the $295.00 strike price is trading with a bid of $1.94. This scenario could yield a total return of 3.88% if the stock is called away at expiration. The $295.00 strike represents a 3% premium to the current price, with a 72% chance of expiring worthless, allowing investors to keep both their shares and the premium.
The implied volatilities for the put and call contracts are 25% and 24%, respectively, while the actual trailing twelve-month volatility is calculated at 24%.
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