ON Semiconductor Corp (Symbol: ON) is trading at $56.07 per share. Investors considering options strategies might find the January 2027 put option at a $33 strike interesting, currently priced with a bid of $2.58. Selling this put could yield a 5.4% annualized return, assuming the contract is not exercised. However, the put seller would only benefit from the premium if shares do not fall below the strike price.
As of Friday mid-afternoon trading, the put volume among S&P 500 components reached 1.69 million contracts, while call volume was 2.13 million, resulting in a put:call ratio of 0.80. This figure is higher than the long-term median ratio of 0.65, indicating a significant increase in put buyers relative to call buyers.
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