Investors in Suncor Energy Inc. (Symbol: SU) can now trade new options for expiration on July 24th, 2023. The noteworthy option includes a put contract at a $64.00 strike price, currently bid at $1.00, allowing investors to potentially lower their effective purchase price to $63.00 per share, compared to the current trading price of $64.36. This put option is approximately 1% out-of-the-money, with a 56% probability of expiring worthless, offering a projected 1.56% return or 11.41% annualized yield.
On the call side, a $65.00 strike price is currently bid at $1.15. If investors buy SU shares and sell this call as a covered call, they could yield a total return of 2.78% if executed by July expiration, with a 49% chance of the option expiring worthless. This provides an additional potential return of 1.79% or 13.04% annualized if the contract expires without being exercised. The implied volatility for the put is at 34%, while the call shows 36%.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
