Suncor Energy Inc (NYSE: SU) introduced new options trading for June 26th, 2023. Notably, a put contract is available at a $62.00 strike price with a current bid of 45 cents. Investors who sell-to-open this put would commit to buying shares at $62.00, effectively reducing their cost basis to $61.55, which is slightly below the current trading price of $62.89. The likelihood of this put expiring worthless is estimated at 58%.
On the calls side, a call contract at a $64.00 strike price is trading with a bid of 50 cents. If investors purchase shares at the current price and sell-to-open the call, they would commit to selling at $64.00, yielding a total return of 2.56% if the stock is called away by expiration. The chance of this call expiring worthless is estimated at 53%.
Implied volatility for the put is 31%, while the call shows 32%. The actual trailing twelve-month volatility is calculated at 23%.
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