Investors in General Moly Inc (GMO) saw new options become available today, for the August 17th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the GMO options chain for the new August 17th contracts and identified the following call contract of particular interest.The call contract at the $2.00 strike price has a current bid of 10 cents. If an investor was to purchase shares of GMO stock at the current price level of $1.85/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $2.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 13.51% if the stock gets called away at the August 17th expiration (before broker commissions). If course, a lot of upside could potentially be left on the table if GMO shares really soar, which is why looking at the trailing twelve month trading history for General Moly Inc, as well as studying the business fundamentals becomes important. Below is a chart showing GMO's trailing twelve month trading history, with the $2.00 strike highlighted in red:
GMO August 17th Options Begin Trading
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