Investors in China Ming Yang Wind Power Group Ltd. (MY) saw new options begin trading today, for the July expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the MY options chain for the new July contracts and identified the following call contract of particular interest.The call contract at the $2.50 strike price has a current bid of 05 cents. If an investor was to purchase shares of MY stock at the current price level of $1.84/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $2.50. Considering the call seller will also collect the premium, that would drive a total return of 38.59% if the stock gets called away at the July expiration (before broker commissions). If course, a lot of upside could potentially be left on the table if MY shares really soar, which is why looking at the trailing twelve month trading history for China Ming Yang Wind Power Group Ltd., as well as studying the business fundamentals becomes important. Below is a chart showing MY's trailing twelve month trading history, with the $2.50 strike highlighted in red:
July Options Now Available For China Ming Yang Wind Power Group (MY)
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.