Investors in SAP SE (NYSE: SAP) are now able to trade new options set to expire in February 2026. The notable contracts include a put option at a $240 strike price, currently bidding at $6.20, which requires investors to commit to buying shares at that price, effectively reducing their cost basis to $233.80. This represents roughly a 1% discount to the current market price of $243.44. Analysts indicate a 59% chance that this put option may expire worthless, presenting a potential 2.58% return on the cash commitment.
Additionally, a call option at a $250 strike price has a current bid of $6.30. This would allow investors who purchase shares at $243.44 to sell at $250, generating a total return of approximately 5.28% if called away by expiration. There’s a 56% chance this call option might also expire worthless, which would allow the investor to retain both shares and premium collected, translating to a 2.59% return on investment. The implied volatility for these options is around 31% for puts and 32% for calls, against a trailing twelve-month volatility of 27%.
