Investors in 10x Genomics Inc (Symbol: TXG) saw new options trading commence today for an expiration date in August 2027. The newly introduced put contract at the $60.00 strike price has a current bid of $16.20, allowing sellers to potentially purchase the stock at $60.00 while effectively lowering their cost basis to $43.80 after accounting for the premium. This represents a 4% discount to the current trading price of $62.35 per share.
On the call side, the $65.00 strike price has a current bid of $18.60. Investors could also sell a covered call after purchasing shares at $62.35, positioning themselves for a total return of 34.08% if the stock is called away by expiration. The likelihood of the put contract expiring worthless is estimated at 70%, while the call contract has a 34% chance of being worthless at expiration. The implied volatility for the put is 87%, and for the call, it is 84%.
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