Investors in Suncor Energy Inc (Ticker: SU) can now trade new options set to expire on September 11, 2023. A notable put contract at the $65.00 strike price has a current bid of $0.55, providing a potential cost basis of $64.45 per share if sold. This strike price represents a 1% discount to the current trading price of $65.63, with an estimated 56% chance it could expire worthless.
On the call side, a $66.00 strike call option is available with a bid of $0.50. If an investor purchases shares at $65.63 and sells the call, they could achieve a total return of 1.33% if the stock is called away, although this comes with a 50% probability of the contract expiring worthless. The implied volatility for the put is at 33% while the call is at 30%, with historical volatility calculated at 26%.
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