Turning to the calls side of the option chain, the call contract at the $220.00 strike price has a current bid of $4.15. If an investor was to purchase shares of V stock at the current price level of $214.13/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $220.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 4.68% if the stock gets called away at the May 23rd expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if V shares really soar, which is why looking at the trailing twelve month trading history for Visa Inc, as well as studying the business fundamentals becomes important. Below is a chart showing V's trailing twelve month trading history, with the $220.00 strike highlighted in red:
V May 23rd Options Begin Trading
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