Turning to the calls side of the option chain, the call contract at the $60.00 strike price has a current bid of 85 cents. If an investor was to purchase shares of MAC stock at the current price level of $58.58/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $60.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 3.88% if the stock gets called away at the January 2014 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if MAC shares really soar, which is why looking at the trailing twelve month trading history for Macerich Co. , as well as studying the business fundamentals becomes important. Below is a chart showing MAC's trailing twelve month trading history, with the $60.00 strike highlighted in red:
January 2014 Options Now Available For Macerich (MAC)
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