Investors in SLB Ltd (NYSE: SLB) saw new options for June 2027 begin trading today, with a $27.50 put contract currently bid at $0.50. This represents a potential entry point for buyers, allowing them to acquire shares at an effective cost of $27.00—41% below the current share price of $46.81. Analysts estimate an 89% chance that the put will expire worthless, yielding a 1.82% return or 1.88% annualized if it does.
On the call side, a $55.00 contract is bid at $3.80. If investors buy SLB shares at the current price and then sell this call as a covered call, they could realize a total return of 25.61% if the stock is called away by June 2027. However, it carries a 57% chance of expiring worthless, allowing the investor to keep both the premium and shares, translating to an 8.12% yield boost.
Currently, the implied volatility for the put contract stands at 62%, while the call’s implied volatility is 42%. The trailing twelve-month volatility calculated from previous trading data is 34%.
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