Investors in Salesforce Inc (CRM) can now engage with newly available options that expire in December 2028. Notably, the $160.00 put contract currently bids at $34.55. Selling this put would require investors to buy the stock at $160.00, effectively lowering their cost basis to $125.45, compared to the current market price of $169.43. This strike price represents approximately a 6% discount, with a 71% chance of expiring worthless, offering a potential return of 21.59%, or 8.97% annualized.
On the call side, the $210.00 contract is bidding at $39.20. If investors buy shares at $169.43 and sell this covered call, they could realize a 47.08% total return if the option is exercised. Given that the $210.00 strike price is around 24% above the current market price, there’s a 44% chance this call may also expire worthless, allowing the investor to keep both the shares and the premium, translating to an additional return boost of 23.14%, or 9.61% annualized.
The put contract has an implied volatility of 48%, while the call option shows 50%. Actual trailing twelve-month volatility for CRM is calculated at 39%.
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