Investors in Callaway Golf Co. (ELY) saw new options begin trading today, for the October 19th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ELY options chain for the new October 19th contracts and identified one put and one call contract of particular interest.The put contract at the $6.00 strike price has a current bid of 5 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $6.00, but will also collect the premium, putting the cost basis of the shares at $5.95 (before broker commissions). To an investor already interested in purchasing shares of ELY, that could represent an attractive alternative to paying $6.90/share today.
October 19th Options Now Available For Callaway Golf (ELY)
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