Investors in Evercore Inc Class A (Symbol: EVR) saw new options trading begin today for a November 20th expiration. The $340.00 put contract has a current bid of $36.60, allowing investors to potentially buy shares at an effective cost basis of $303.40 after premium, representing a 1% discount on today’s share price of $342.61. Odds of the put expiring worthless are at 59%, potentially yielding a 10.76% return, or 18.98% annualized.
On the call side, the $350.00 call contract is currently bid at $40.20. If investors buy shares at $342.61 and sell this contract, they could achieve a total return of 13.89% if the stock is called away at expiration. The call contract has a 45% chance of expiring worthless, in which case it could yield an 11.73% return, or 20.69% annualized. Implied volatility for both contracts is approximately 42%, while actual trailing volatility is calculated at 36%.
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