Investors in Bank of New York Mellon Corp (BK) saw new options begin trading today, for the May 2nd expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the BK options chain for the new May 2nd contracts and identified the following put contract of particular interest.The put contract at the $33.00 strike price has a current bid of 1 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $33.00, but will also collect the premium, putting the cost basis of the shares at $32.99 (before broker commissions). To an investor already interested in purchasing shares of BK, that could represent an attractive alternative to paying $33.26/share today.
May 2nd Options Now Available For Bank of New York Mellon (BK)
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