Investors in Natera Inc. (NTRA) can now explore newly available options contracts expiring on December 18, 2023. Notably, a put contract at a $185 strike price is currently bid at $22.70, allowing investors to potentially buy shares at a net cost of $162.30, compared to the current share price of $192.17, representing a roughly 4% discount. Analysts estimate a 64% chance that this put contract may expire worthless, which would yield a 12.27% return on cash commitment or an annualized 20.63%.
On the call side, a contract with a $200 strike is bid at $27.00. This would require an investment at the current share price, offering an expected total return of 18.12% if shares are called away by expiration. The likelihood of this contract expiring worthless is estimated at 44%, giving potential for an additional 14.05% return if it does not. Implied volatility for both contracts stands at approximately 52%, while actual trailing volatility is calculated to be 42%.
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