Investors in J.C. Penney Co., Inc. (JCP) saw new options become available today, for the November 29th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the JCP options chain for the new November 29th 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 61 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 $5.39 (before broker commissions). To an investor already interested in purchasing shares of JCP, that could represent an attractive alternative to paying $6.85/share today.
Interesting JCP Put And Call Options For November 29th
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