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Turning Point Brands Inc (TPB) shareholders can enhance income through a covered call option at the $80 strike for December, with a premium bid of $6.20. This strategy could yield a total annualized return of 17.6%, assuming the stock price remains under $80. Currently, TPB shares trade at $73.82, needing a 7.7% increase to reach the strike price.
As of mid-afternoon trading on a Wednesday, the S&P 500 showed high call volume with 2.57 million calls against 1.14 million puts, resulting in a put:call ratio of 0.45, indicating a strong preference for calls by options traders.
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