Turning to the calls side of the option chain, the call contract at the $70.0 strike price has a current bid of $1.21. If an investor was to purchase shares of CVS stock at the current price level of $68.29/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $70.0. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 4.28% if the stock gets called away at the March 22nd expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if CVS shares really soar, which is why looking at the trailing twelve month trading history for CVS Caremark Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing CVS's trailing twelve month trading history, with the $70.0 strike highlighted in red:
March 22nd Options Now Available For CVS Caremark (CVS)
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