Zions Bancorporation’s New Options: Opportunities to Consider

Newly Available Options for January 2026 Present Attractive Scenarios

Investors in Zions Bancorporation, N.A. (Symbol: ZION) have new options available this week for the January 2026 expiration. A crucial factor influencing option pricing is time value. With 394 days until expiration, these new contracts offer sellers of puts or calls the chance to secure higher premiums compared to contracts expiring sooner. At Stock Options Channel, our YieldBoost algorithm has identified notable put and call contracts within the new options chain for ZION.

The put contract at the $55.00 strike price currently has a bid of $6.70. If an investor sells to open this put contract, they agree to buy the stock at $55.00 but will also collect the premium. This arrangement effectively reduces the cost basis for shares to $48.30 (excluding broker commissions). For those interested in acquiring shares of ZION, this presents a compelling alternative to purchasing at the current price of $56.13 per share.

The $55.00 strike is about a 2% discount from the current trading price, meaning it is slightly out-of-the-money. There is a possibility the put contract could expire worthless, with current analytics indicating a 61% chance of this outcome. Stock Options Channel will monitor these odds and provide updates on our website regarding this contract. If the contract expires worthless, the premium would yield a 12.18% return on the cash commitment, or 11.29% annualized. We refer to this return as YieldBoost.

Below is a chart illustrating the trailing twelve months of trading history for Zions Bancorporation, N.A., with the $55.00 strike highlighted in green:

Looking at the call side of the options chain, the call contract with a $57.50 strike price currently has a bid of $7.60. Investors who buy ZION stock at the current price of $56.13 per share and sell to open this call contract as a “covered call” would agree to sell their shares at $57.50. Including the premium collected, this scenario could lead to a total return of 15.98% if the stock is called away by the January 2026 expiration (before broker commissions). However, substantial gains could be missed if ZION shares significantly increase, stressing the importance of reviewing both historical trading data and the company’s fundamentals.

Below is another chart that tracks ZION’s trading history over the last year, highlighting the $57.50 strike in red:

The $57.50 strike represents a modest 2% premium over the current trading price, suggesting a chance the covered call could expire worthless, allowing investors to retain both their stock and the collected premium. Current analytics imply a 43% probability of this occurring. Stock Options Channel will also track and post progress on this data, including a history of the option contract. If the covered call expires worthless, it would add an additional 13.54% return, or 12.54% annualized, in a context we label as YieldBoost.

Implied volatility for both the put and call contracts is approximately 36%. Meanwhile, we compute the actual trailing twelve-month volatility at 35%, based on the last 251 trading days and today’s stock price of $56.13. For more insightful put and call options ideas, visit StockOptionsChannel.com.

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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.