New options for Simon Property Group, Inc. (SPG) began trading today, with a September 2027 expiration date. Investors can choose from a put contract with a $220 strike price, currently bidding at $18.70, and a call option with a $230 strike price, bidding at $16.50.
The put contract implies a cost basis of $201.30 for purchasing shares, offering a potential 8.50% return if it expires worthless, with a 58% probability of that outcome. The call option, meanwhile, would provide a 10.41% return if the stock reaches the strike price, carrying a 53% chance of expiring worthless.
As of today, SPG shares are trading at $223.26, with a 1% discount for the put option and a 3% premium for the call option. Implied volatilities are 24% for puts and 25% for calls, while the trailing twelve-month volatility is calculated at 19%.
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