Investors in Great Lakes Dredge & Dock Corp (GLDD) saw new options become available this week, for the October 19th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the GLDD options chain for the new October 19th contracts and identified the following call contract of particular interest.The call contract at the $7.50 strike price has a current bid of 15 cents. If an investor was to purchase shares of GLDD stock at the current price level of $6.73/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $7.50. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 13.67% if the stock gets called away at the October 19th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if GLDD shares really soar, which is why looking at the trailing twelve month trading history for Great Lakes Dredge & Dock Corp, as well as studying the business fundamentals becomes important. Below is a chart showing GLDD's trailing twelve month trading history, with the $7.50 strike highlighted in red:
First Week Of October 19th Options Trading For Great Lakes Dredge & Dock (GLDD)
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