On October 4, 2023, Halozyme Therapeutics Inc (HALO) introduced new options contracts expiring in May 2027. A key opportunity arises with a put contract at a $110 strike price, currently bidding at $9.20, allowing potential buyers to acquire shares at an adjusted cost basis of $100.80, representing about a 2% discount from the current price of $111.92.
Investors also have access to a call contract at a $120 strike price with a bid of $9.80, which, if executed as a covered call, could yield a total return of 15.98%. This call is about 7% above the current market price and has a 50% chance of expiring worthless. The implied volatility for the put and call contracts stands at 38% and 39% respectively, while the actual trailing twelve-month volatility is calculated at 36%.
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