TTM Technologies Inc (Symbol: TTMI) saw new options trading commence today for a November 20th expiration, with two notable contracts attracting attention. The $120.00 put contract currently has a bid of $16.70, representing a commitment to purchase shares at this price, effectively lowering the cost basis to $103.30, compared to the current trading price of $122.74. The put option’s probability of expiring worthless stands at 62%, potentially yielding a 13.92% return on cash commitment if it does expire worthless.
On the call side, the $130.00 strike price call contract has a bid of $17.10. If TTMI shares, purchased currently at $122.74, are sold at this strike price, it would yield a total return of 19.85% by the November expiration. The odds of this call contract expiring worthless are 45%, allowing investors to retain both shares and premium collected if the option does not get executed.
Current implied volatility for both contracts is approximately 88%, with trailing twelve-month volatility calculated at 80% based on recent trading data.
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